Hi Kirk, short answer: yes, sort of...
If you want "instant replay" then timing is critical otherwise saving for later playback is simple.
I find a 12 or 13 second delay works best for hockey, this allows for some high five celebrations after a goal.
Use shortcut keys to trigger replay/save actions.
I set my video delay playback at 50% and cut to it 5 or 6 seconds after a goal for "instant replay".
I also have a trigger to save the delay for later playback if need be, such as a scoring chance or penalty infraction where the play continues past your 5 to 8 second window (it may take up to 20 or 30 seconds to save a clip depending on your system so "instant" is not an option in those circumstances).
You can see a sample of how it works here:
http://youtu.be/Tc7QxaSzCXo
I've also shared the Stinger Clips here if you are so inclined:
http://forums.vmix.com.au/default.aspx?g=posts&t=1749
Keep me posted as to how you make out or if you need more help.

Ice