Yes. There is a gap between the glass and the metal sleeve it's mounted in so even with the metal sleeve pushed all the way in, you're really in no danger of drilling the glass. I have mine shoved all the way in. The glass doesn't move in that sleeve, it's glued at a point about an inch and a quarter from the back of the metal.
I drilled the 1/16 pilot hole and promptly BROKE THE HEAD OFF THE SCREW TRYING TO GET IT TO GO IN! I finally had to keep increasing my pilot hole to a 1/8 size before the screw would go in.