Mike Sartain (now at Rad) recommended we try it. ClangFormat is extremely configurable, and can handle more or less any convention you could want. It's a top notch tool. Here's vogl's .clang-format configuration file to see how easy it is to configure.
One day on the vogl GL debugger project, I finally got tired of trying to enforce or even worry about the lowest level bits of coding conventions. Things like if there should be a space before/after pointers, space after commas, bracket styles, switch styles, etc.
I have grown immune to most styles now, but switching between X different styles to write locally conforming code seems like an inefficient use of programmer time.
On new codebases, be sure to figure this out early or you'll get stuck in the style diversity vortex.
Then, the editor just loads and converts to text, you edit there, and it converts back to binary for saving and checkin. With this approach, it should be possible to switch to different code views to visualize and edit the code in different ways. (I'm sure this has all been thought of 100 times already, and it ended in tears each time it was tried.)
As a plus, once the code has been pre-parsed perhaps builds can go a little faster.