I believe so, yeah. Two pro's that come to mind are David Haye and John Murray...I've seen these to as assistants in the corner a couple of times. If they are allowed to fight pro, I don't see why an assistant coach can't fight amateur.
it would be a pretty dumb idea not to allow it. while i don't think a coach needs to be a fighter, former or present to be a good coach, it certainly couldn't hurt to have one who knows what it is like to step through the ropes and once been in your shoes. but then again the likelihood of him being a bit punch drunk goes up too.