John, kinda yes. Ya see, Rick (can) print that and has, and would do it to perfection, but that's not normally his business. You can and probably have done so many times yourself.
As for art and seps on this, I've done it both ways, flat screen print non 3D and specialty ink 3D. You do need special attention to how it gets separated for 3D. You must accommodate for stacking layers (chocking in a little as you stack higher and line weight and ink thickness are all to be considered.
Rick and myself are not near the first to do this. Many others not named and many that we don't know if have mastered it and I don't remember the fist guy to have claimed to master it, but that's been so long ago, (25+ years) it's not relevant anymore.
Now that I think about it, the first guy to apply it to art, got the idea from Wilflex who sold the HD ink to companies that printed the ink as large dots onto the palms of work gloves for extra gripping.
Most people do this in vector since there are not many halftones or blending going on. Myself, when I was doing it, I did simulat f full color process on top of the HD, puff and psued. Sometimes even crystalline mixed in.
For stitching, you can draw a path or your stitching and use a solid line and six zag in and out over the solid type. On the inside, come in maybe about a 1/32 or more and work with spreading out your outline to be a dash to look more like a stitch. Adjust corners accordingly. I typically would extend my path in and out overtop of the border of the type.
If your stitch is to be a 3D ink, then copy that, paste behind and fill with white and stroke it about .5-1pt depending on the swell of the ink. Your trying to create a gap and avoid laying that ink half way on top of another and allow for swell (as in puff ink).
There are many ways to approach the separations depending on where and when you want the ink printed. It's pretty much common sense.