Nope. I rechecked the PNG specification, and it explicitly states that the high bits must be zero:
"If the image bit depth is less than 16, the least significant bits are used and the others are 0." -- Year 2003, https://www.w3.org/TR/2003/REC-PNG-20031110/#11bKGD
"Gray: 2 bytes, range 0 .. (2^bitdepth)-1" -- Year 1996, version 1.0, http://www.libpng.org/pub/png/spec/1.0/PNG-Chunks.html#C.bKG...