If I understand the question correctly, the answer is no: when using @JsonIdentityInfo, logic for finding instance is divided into two parts; object id is used for invoking object id reader (which then consults mapping of already seen ids to instances; or, if not seen, notes down missing instance for later resolution), or, for full objects (not ids), regular deserialization. In former case, no value deserializer is invoked.
It should be possible (if not convenient) to change the way object id reader works, but I have not actually written custom instances myself.
It may be that what is needed is an annotation to allow easier installation of custom handlers for deserialization: for serialization it is possible to define ObjectIdGenerator, but there is no good counterpart for deserialization.
I think Pascal might have other better suggestions, since he has worked extensively on Object Id handling, including writing implementation for out-of-order (forward-ref) resolution introduced in 2.4.
-+ Tatu +-