Possibly, though the pencil mod will decrease resistance, whereas we want the opposite (on the particular resistors I'm looking at). It might be possible to target a different resistor. What this mod is doing is setting vid1 = 1 (solder part) and vid0 = 1 (voltage=1 part). Vid0 and vid1 are connected to a 2-bit VID buck converter, which selects between four output lines (set0, set1, set2, set3). On my miners, the resistance of the resistors connected to these lines are 33, 30, 27, and 36 K (this is different than gridseed's PCB spec!). By default vid0 = 0 and vid1 = 0, so you get 33 K. I experimented with all four vid0/vid1 values and found that power usage (and thus core voltage) is proportional to resistance.

https://github.com/gridseed/usb-miner/blob/master/hardware/GC3355%20USB%20for%20release.pdf?raw=true

vid0	vid1	W	R (K)
0	0	12.4	33
0	1	10.4	30
1	0	11.2	27
1	1	14.0	36