I agree with Disch, anything is possible, but not everything is feasible. You say SMB "for example" but it depends enormously on what game you're hacking. Older NES games are much harder because there's so little space in the ROM. Depends on the type of text, too. Short messages are often buried in code, so adding anything requires adjusting the code, which can get messy. Bigger games with lots of text can be easier as you can use compression and other tricks, and there's more space to move around in the ROM.
So the general answer is "it depends", while the SMB answer is "no, at least not without more effort than it's worth".