Ok, so imagine a guest collecting lives and cookies. He eventually get's 300 cookies as the time passes to get advbuilder. He isn't a risky player so he doesn't die much and collects 200 lives (no joke, i did it once). So he get's a boost to get to adv, and does the same for master.
Now, imagine the same player, as an advbuilder, who got 400 cookies, and 300 lives, and decides to test his luck by ironmanning. He dies by being spleefed, flooded, or in whatever way you people die so oftenly, and looses all his lives!
Now, i'm not sure if your picking up what i'm putting down over there, but my vote is a simple no, from some obvious reasons.