I have dressed the cutting edges with a Dremel to properly align blades that did not close flush (tightened the gap so light can no longer pass between cutting edges), removed dings in the cutting edges, and I have ground away the body of the end cutters to bring the cutting edge closer to the end of the pliers in order to be able to cut more flush to a surface, but I don't change the angle of the cutting edges.
If you make a sharper angle it will cut faster and easier, but the cutting edges will wear faster and/or ding more easily. I think it would be fine to do it for end cutters that will only be cutting copper or aluminum wire, but I would not do it for anything that is used to cut harder metals or thicker materials.