If your talking C4, everything I have read says yes. Thought about doing it myself. Don't know anyone that has. I would think you could catch some bruisers coming out of or off Lassen if you got the weather.
You can hunt the Caribou just make sure you don't wander into L.N.P. As for the hunting aspect to your post, I've never hunted it. I've hiked through it a few years ago & wasn't overly impressed with deer abundance but there are some nice bucks in there.
You will not see many deer at all. Very little sign as well. It is my opinion that any deer around Lassen migrate west into the Shingletown area. There are some in there, but in all the scouting I've done in the area, I've seen maybe 10 deer with one being a decent buck. I have spent many weekends in the area (live only about 20-30 minutes from there). It looks like it should hold a lot more. To me it's kind of sad to spend that much time in the woods and not see anything..