Not directly but you can always use Color Range to make a layer mask...
You can try this. Once you get your selective color adjustment layer the way you like it, change it's blending mode to difference. Add a B&W adjustment layer above that then a curves or levels adjustment layer above that. Use the curves or levels adjustment layer to give the image more contrast by adjusting the top white values. This will produce an image that you can then make a selection from from the channel pallet.
This is black magic! I will be trying this out more in the future.Thank you!
Color Range is cool, but I think I need to watch a video tutorial of a pro using it. I've been using it the same for a long time and usually I just get a half-decent dark or light value selection out of it. It has been valuable for some things but I think i'm missing some key features about it to take it to another level.