As long as you don't mind if it turns out a slightly different, or slightly paler color than on the box cover, then I'd say go for it!
You'll have to re-wind your skein into a loose hank, and tie it (loosely!) in a few places, in order to dye it evenly.
Let me know how it works. I have a bunch of wool I want to dye, too, and I don't know what kind of dye to go with.
KnittingHelp Queen Bee
"There is a vitality, a life force, an energy, a quickening that is translated through you into action, and because there is only one of you in all of time, this expression is unique. And if you block it, it will never exist through any other medium and it will be lost. The world will not have it. It is not your business to determine how good it is nor how valuable nor how it compares with other expressions. It is your business to keep it yours clearly and directly, to keep the channel open. You do not even have to believe in yourself or your work. You have to keep yourself open and aware to the urges that motivate you. Keep the channel open."
— Martha Graham