If I'm doing it right nope. I'm assuming you mean monitor the serial port (COM3 in my case) while powering on the Mega? Or is there a different debug method?
Using the serial monitor in IDE shows nothing on connection or reset. I can attempt to send characters and the RX LED on the board does flicker. Also on reset the pin 13 LED does not blink.
The loopback test works (tried that before posting) and the ICSP header near the Mega16U2 has not been touched.