It wouldn't make sense for some characters. I mean, Rachel's and Valky's ODs only affect their Drives, but I don't see how they'd also buff their distortions (MAYBE Tempest Dahlia, making it like her Unl. Version).
It would be interesting, though, if OD makes chars gain access to their Unl distortions (like Valky getting his Wölf shit you could only use while Unlimited), but I bet that's not happening