I did - I was studying with the OU who are fantastic - very supportive about health issues including MH. Although of course you still need to be able to actually do the work... Also, if you're on state benefits check out the financial support available from OU, I know they have various bursaries etc, especially if you aren't working because of health issues.
It helped that the MSc related to my job, so my employers were supportive - half a day off per week and a day off for exams. But of course, it needed a lot more time on top of that.
My advice is be very organised! And don't think you have to read/do everything. Plan your approach to the course, get past exam papers early and check out the assignments from the start - focus your work on what you need to do get through the course, and on the bits that interest you most. There will be too much material to cover everything (even if you weren't working) and one of the key skills from a Masters degree is being able to focus and select then analyse the necessary information.
And don't be too much of a perfectionist :)
Good luck!
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