yes
This works best with a short bow. Knockdown is 2 seconds, so you should have a weapon with a refire of at least 2 seconds. Shortbow being the closest one to those 2 seconds.
If you plan to use it on your assassin, consider [skill]Shock[/skill]Instead
A shortbow is the best thing to use if you're going to try this. If you use daggers, you'll hit them while they're already, so they won't be knocked down, but you'll still lose energy. If that didn't make sense, remember to not hit them while they're already knocked down.