I've done it on occasion. I used to HATE 'Alien Resurrection', and now I don't like it much. Likewise, before I started posting on the Internet about AvP stuff, I used to love 'Alien' the most in the series, but since then my opinion has dipped down substantially. I don't "hate" it, not in the slightest, but it's definitely my least favorite out of the four, as opposed to when it used to be my favorite. I used to be lukewarm towards 'Alien3', but it has since become my favorite of the four.
There are a few other unrelated movies that I used to like (or not like) and my opinion changed pretty heavily after subsequent viewings. Most recently is probably 'Saw IV' -- I really didn't enjoy it on the first viewing, but after I watched it again I "got" it and liked it a lot more.