Unlikely. Even without the PR disaster, they would still be losing their deposit.
Most people don't care which opposition party it is they are voting for - they just want to vote for the frontrunner non-PAP candidate. This is apparent from the past few MCF by elections we had in Anson and Marine Parade. PE2011 was different because most people couldn't see for themselves that TCB had a far better chance of unseating TTT than TJS. This BE is different - WP is the obvious frontrunner opposition party here. Only the extreme WP haters will be voting SDP/RP/SDA.
Incidentally, anyone remember the youtube videos of SDP supporters cheering WP's Aljunied win at the SDP gathering at Quality Hotel during GE2011? Seem to have been deleted and unsearchable now. I wonder why.