Robi, I'm not sure if your question was concerning eligibility under the rules or just the practical feasibility. As I think someone else mentioned, the current rules are actually quite open: 2-person, production catamarans up to 20 feet, spinnaker rigged by the factory, Texel rating 102 or below.
Currently, I believe Texel has F16 2-up at 103, but I posted a query to Wouter about this over on the F16 forum, as he had previously indicated that F16 was at 102.
In general I think distance racing in an F16 is a pretty interesting prospect, though I suspect folks might want to test that concept with something a little gentler than the Tybee.
Mark.