Its possible but some applications may not work. If any of the applications are self contained within their directory or it is a single executable not dependent on any other files outside of the pentest directory then it might work. But if any programs rely on, for example, configuration files outside the pentest directory then this method will not work.
It is best just to look at the wiki and download each program by itself.
http://backtrack.offensive-security.com/index.php/Tools



