Given that ATF+4 has more friction modifiers and is generally a slipperier, lighter fluid, it would probably work in a Dex/Merc application, if you can handle the possibility of your shifts being softer. More then likely most new transmissions would compromise for that difference, though.
Some Chrysler transmissions (briefly) worked fine on Dex/Merc, some experienced funny shifting issues with it, but in general it was fine (up until it killed them, IE 41TE's). I would say that ATF+4 is a possibility though as an experiment, not as an everyday thing.