This content has been resurrected from a page on one of my former sites so blame past me, not current me.
Yes, it does work, as a primary monitor even!
First of all, download the utility "NDrv Man". It appears to have been lost to the sands of time, but I found it on one of my old CDs, so here it is, NDrvMan 1.0, Written By Adam Thayer: NDrvMan.sit
Now you can rip out the graphics driver from the Voodoo ROM file, follow the instructions in the README file.
You can then install the .ndrv file into MacOS X (/System/Library/Extensions/AppleNDRV). You'll have no 3D acceleration and pretty much nonexistant 2D acceleration, but if all you want is another monitor it works fine. I've only tested it in 10.1, and it worked for me.
Disclaimer: It was a few years ago I tried this, so I may be way out if it and remember everything wrong. I may try it all again just to confirm what I've said here.
Original developers page in web archive: http://web.archive.org/web/20011217185703/http://homepage.mac.com/krevinek/voodoox.html
Some japanese page about it: http://www.h4.dion.ne.jp/~mitake/mac/mac1_10.html