I tried this originally in a bot match... It was rough. Full offensive masteries and runes meant I died. In the next bot match, I went a mix of offensive, defensive, and utility. I tossed aside mana regen yellows for armor yellows....
And it was hard. Rough. But it worked.
I carried it into a live match, and got the most kills of the team-- and a pretty good kdr.
The next match sucked, but after that, I tried it once more, and I had the 2nd best KDR on the team-- though I'll admit I sucked on the "jungle phase"/laning phase in that one.
My thoughts/input?
It is possible, but VERY difficult levels 1-5. Her ganks at 6 are pretty good with her ulti. Her Miasma means that enemies have trouble getting away, and Exhaust makes it even better.
I still have yet to see why it would be better than another jungler, but she can work.
You do need help with wolves and blue, and when you gank your team members must come immediately, or you die.
Later on, at the end of laning phase, around lvs …