I've been Googling about, and it seems the answer is 'no' from anecdotal reports for gparted. However does this apply to parted as well?
I'm not talking about risk factors here involved by inputting the wrong partition, fat fingering a button, power cuts etc - I mean direct effects only.
How does parted know how much 'space' is available? I just see the following output:
GNU Parted 3.2
Using /dev/sdd
Welcome to GNU Parted! Type 'help' to view a list of commands.
(parted) p
Model: ATA OCZ-VERTEX3 (scsi)
Disk /dev/sdd: 60.0GB
Sector size (logical/physical): 512B/512B
Partition Table: msdos
Disk Flags:
Number Start End Size Type File system Flags
1 1049kB 316MB 315MB primary ext4
2 316MB 60.0GB 59.7GB primary ext4
While on gparted I see the following (It's showing up with this drive as /dev/sde after a reboot):
It has some functionality to prevent me from 'resizing' the partition to small (and hence prevent data loss - I assume).

parted's implementation. – Chris Stryczynski Feb 04 '19 at 20:28