YES!
Last year I was religous about doing a workout called awesome abs which was a total killer (15-20 minutes of hell), followed by only about 3-5 minutes of equivalent back exercises. You may think that Im exagerating but I strengthened my abs so much that I started to run all hunched over and it was hurting my back. I didnt work my lower back enough to hold myself up straight, and my abs were so tight they were pulling me down. I tried stretching out my abs but nothing worked until I completely gave up ab work and did a full summer of Yoga.
I guess there isnt too much ab work if you spend equal time strengthening the counter muscles in your back, but not many programs recomend this.
The thing that I found to be most effective for strenghening your abs and lower back equally is a drill we called four points or Fairview Belly torture that we did in High School. You start out facing down on the ground with your weight supported on your forearms and your toes, with your back as straight as possible, stay there for ten seconds, then raise youre right arm and keep your back parallell to the ground, then switch arms, then do your right leg and your left leg. Each of these would be three points. Hold each of the positions for about 10-15 seconds. Then the hard part is you lift your right arm and left leg at the same time, then switch. Throughout the whole exercise your back should be straight as a board and parallel to the ground, it gets pretty tough when you get down to two points. Do a couple sets of this and you'll definetly feel it not only in your abs but also in your back. Its a great exercise, hope you enjoy.