(Almost) Everything is possible... The actual question is: is it needed ?... See this screenshot:
I don't find it difficult to see the difference between worn and not-worn items...
Problems start with the assets server reliability: should a viewer-side initiated transaction fail because of a server-side issue, you could end up with missing items (especially no-copy ones)... Sorry, but I won't take this risk.
Yes, I tried several and found a few possible replacements for the v1 UI viewers fonts (Amble, Arena, Doris, Droid, Android, Oregon LDO, Roboto, Rocko, Saxony-Serial...), but none were as good looking as the original SL v1 viewers font...