Well, yes, actually they will load the same as a AA compression formed hull. I've used quite a few for hunting loads. They do not get loaded a second time, however. If I find them at all, they go in the trash.
If you want to buy cheap shells, and still have reloadable hulls, but the remington gun club/sport load shells. Roughly the same price as the Winchesters or Federals, and the hulls will last usually at least 10 reloads. Personally, i'd rather have Federal hulls than Win Universal hulls to reload. As an aside, winchester does advise not to reload the universal hulls.