I've never seen a team do that. I'd probably steal a base to let the other coach know I didn't care for his taking advantage of my generosity.
Before I would ever call off the dogs, I'd check in with the opposing coach between halves of the inning--just to verify the score. I'd let him know my plan to get other players into the game and that he should probably do the same.
The question always seems when is the right time? I've seen some big leads melt away in an instant. If you get soft too early and the other side gets momentum, it can be hard to reestablish intensity.
After about the 4th inning in a 7 inning game , if the game feels well in hand, I'll stop stealing and only advance on passed balls or wild pitches and never take home on such a pitch. The sixth inning, I'll pinch hit as many kids as I can and make 1 or 2 defensive changes. In the final inning, I'll clear the bench.