I've pulled this off multiple times in my career.
On Bowser, Squirtle, Charizard, fellow Marths, Donkey Kong and maybe zero suit samus. Oh and I've definitely pulled it off against Falco.
This type of stuff is the "the faster you can execute it while the opponent doesn't expect it, the more likely they'll fall for it".
This is the type of thing M2K practices A **** TON. It's not guaranteed 0-deaths, but he has some many openings and knows the follow ups and specific timings depending on characters he can pull it off fluidly if you DON'T react accordingly.
Please avoid double posting.