It's a good idea but I think the general answer will be no. I have the compressor somewhat/partially isolated but my tanks sit on the bench when I fill. I don't think anything short of a good concrete enclosure would contain a valve failure, and moreso... a steel tub (with water) to contain a true tank failure. So yea, that one aspect I take my chances on. But, never have seen (doesn't mean it hasn't occurred) any failure of home use equipment of this sort that wasn't CLEARLY the users fault. Safety first, moreso for my family if they are around.
It won't protect property, but I walk out of the room and close the steel door behind me while the tanks are filling. One tank I check during the process as I only fill to 250 bar, the new one I wait till I hear he blow off valve at 4500psi. Not bragging or suggesting its okay for everyone, but it's within my risk level.