If just one engine will get you off airborne and climbing safely from a V1 cut then why on earth would it not get you from threshold to V1? The answer is it would. So, keep directional control and runway length permitting...
Because < V1 you will be Vmcg limited. By definition you would have to progressivly apply power up to V1 when you may go to max and expect some deviation. Modulate the power in line with the NWS / rudder authority chart. The field length requirements would be huge, I'd recommend proverse wind, fwd cg and let it be a day that I'm not planning on flying...
I'd also recommend amending the take off brief to state "in the event of an engine failure before or after V1, stopping would be grand"
if not you'd blow the fuse plugs at tire speed limits---
Surely you would only blow the fuse plugs if you decided to abort at high speed above the "normal" brake energy limitss. This would be no different to any other day. Hopefully the only abort you would attempt is from 15kts as you taxi off chocks and realise what a bad idea it really is..!
Whilst it may be possible, technically, it's one of those "so why would you want to do that?" questions!