Unlikely. I've elaborated on this in the past.

Basically: You cannot make things dark. You can't use LCD type technology to block part of the lenses for the same reason you can't see scratches on your lenses: you're not focused on your lenses! You're focused in the distance. That means the ideal of having crisp, readable text overlays is mostly a fantasy. You can prove this yourself: get a piece of tape, write some text on it, and put it over your lenses. You can't read the text. You can even use clear tape to simulate what a real overlay would look like.

The second problem is power. Oculus makes sense because you're tethered to a high-end workhorse. When you're using glasses, you have neither a video card nor a huge source of power at your disposal. That means battery technology would need to improve by a massive amount just to make the glasses not die within hours.

The third issue is target recognition. The real world is instant. That means any overlay you use would need to attain 90FPS to appear seamless. If you're going to do the most basic thing with an AR device -- drawing an arrow on the ground, indicating where to walk, a'la Google Maps -- you'll need to recognize the ground + render the overlay within 11 milliseconds. This might work for a ground-based overlay, since you can assume it's a flat plane in a big city, as long as your gyroscope is accurate enough. But where would you even stick a gyroscope with that kind of precision inside a glasses form factor?

The best form factor for this would probably be some kind of "bandana", where the meat of the device sits on the back of your head. That'd look dorky and it'd be uncomfortable, but you might be able to pull it off.

The only way this might work is if you use LCD tech to dim the entirety of both lenses enough to then project light on top of them. But again, your focusing out in the distance, so trying to show anything readable (text messages) seems kind of a fantasy.

Here's proof: Pull out your phone and hold it up to your eye where lenses of glasses would normally be. I'm not sure if you could even render it in a way that would account for the focus blur.