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I don't know how much you know about the D3D graphic pipeline but, assuming you have a basic understanding, Vertex Shaders replace the Transformation & Lighting stage allowing you to move and light verticies in your own way. The Pixel Shader replaces the Multitexturing stage, allowing you to mess with the individual pixels that are displayed. So I guess the short answer would be no.

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You can also modify texture cordinates with [edit]vertex[/edit] shaders.
BTW: It's Fragment, not Pixel The right name is actually fragment program, not pixel shader, because it only modifies fragments of polygons, not pixels on the screen.

~Phantom88~