I've
toyed with it, but as Ahi says, unless your story is simple and quite linear (although with different paths like CYOA books) you will require a programming tool as you will go nuts trying to resolve the story "forks" (with/without the lamp etc).
You could append/prepend every actual book page with a "you are likely to be/you were eaten by the book grue" to stop accidental page turns since normally you jump to another page anyway
