Seth Masket thinks it's a possibility but that it won't matter much:
I want to address this article about Ron Paul's post-caucus strategy. The gist is that the Paul people are very organized and made sure that their supporters stuck around after the initial counts to run for delegates to the county conventions. This is how you ultimately end up with a greater share of national convention delegates than your caucus-night showing would predict. The naive campaign treats a caucus like a primary and leaves as soon as the voting is done. The smart campaign realizes that the caucus is just the first step in the selection of delegates and sticks around to try to control the post-caucus selections. (I wrote about this with regards to Obama and Clinton back in 2008). Anyway, I think Josh Putnam is right that Paul could end up with significantly more delegates than expected thanks to this level of organization, although I agree with Jon Bernstein that this won't make a difference for the nomination.
The Dish 