I've never had the opportunity to try it out, however some say yes while others say no. The reason some don't is because of the condensation that appears after taking it out of the fridge, which might ruin your fondant. But some suggest if you just don't touch that cake for an hour or so after taking it out it should be fine. Sorry this isn't much help, you may just have to try it out for yourself. Personally, I would refrigerate if needed, and then not touch it for a bit, as I mention earlier.
I don't think I'd recommend it...last time I did that, when I took it out it had condensation all over it!
I think if you don't let it get SUPER cold it will be fine, like putting it in and taking it out periodically just to keep the cake a little cool. Also, make sure and keep your house/bakery as cool as possible (air conditioners take humidity out of the air, I think?) to keep from having a big condensation problem.
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