The answer to this is a simple, YES! Camo works great with shoes, or any accessory item. The reason is because camouflage is a support color, as we like to call it in the fashion industry, and when you use it on items that aren't main, it tends to stand out more.
Another reason why camo works great on shoes, is because aside from the face, people tend to look at another persons feet, and it stands out. Don't go overboard here, as you don't want to wear say, army boots, when you are walking around town, but there are plenty of shoe stores which feature the camo theme.
Adding on to this, you can use camo on purses, wallets, hats, etc., and it will look really nice, it doesn't have to be a main piece. Having said that, you can certainly mix the two themes together, and wear say, a camo shirt and a camouflaged hat. It really depends on whether you want camo to compliment your dressware, or whether you want to feature it. That is really a personal choice, although it is best to only wear camo as an accessory item while at work.