This is how the TI Equibit technology works - direct translation of PCM to PWM, with an open-loop output stage. It is found in the Tact amplifiers and the Panasonic XR series receivers - lots of information out there if you search.
Using them in a digital xover setup is complicated by the fact that there is no standard for transmitting uncompressed multi-channel audio. Each Panasonic reciever for example can only accept stereo PCM or else DD/DTS multichannel. You'd need say 3 receivers and a soundcard capable of 3 pairs of spdif outputs to implement a digital xover this way.