Yes.
On the B737 at least, when moving from Up to Off, it is possible to overcook it slightly and go past the off position into the realms of gear down. Trust me - my friend did it.
As for damage, it wouldn't hopefully be a problem as the max speed for lowering the gear is 270Kts or 0.82M. You should have been unloading the hydraulics by moving from "up to off" well before acceleration up to this speed after take off. Normally in the region of 210 - 250 Kts at that stage so plenty of mnargin.
Trouble comes as max retraction speed is 235Knots, so you may well have to slow down before you can bring the Dunlops back in again!
Hope this clears it up!
SR