Yes. This is possible. Below is a simple code for doing this. However, if the suppressed feature has any consumed sketches, dependant featues / sketches, or dependant work features, it will likely throw an error. If you wanted, you could include a line like "On Error Resume Next" just before the For Each line. This will allow the code to continue to run when it encounters errors. On the Delete line of code, you will notice three "False" three times. This is where it answers the normal three questions it asks you when you delete a feature.
Dim oDoc As PartDocument = ThisDoc.Document
Dim oCompDef As PartComponentDefinition = oDoc.ComponentDefinition
Dim oFeats As PartFeatures = oCompDef.Features
For Each oFeat As PartFeature In oFeats
If oFeat.Suppressed = True Then
oFeat.Delete(False, False, False)
End If
Next
I hope this helps.
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Wesley Crihfield

(Not an Autodesk Employee)