I say no. Its bad enough I have to see chihuahua's wearing the local sports team sweaters or shoes but I draw the line at my wolf wearing reindeer antlers!
A "Pet Window" is probably up there among the most often requested things in this game. I don't think pets are able to be geared "visibly" like players are so a "Hero's Forge for pets" to give them visible armor would probably require too much coding time for too little return, better to just have illusions created that have some "armoured" appearances for already used base models.