The HAAS milling machine sort of does that. You can orient the spindle programmatically and there is a brake but it's just the motor holding it in place - it will wiggle if you turn it with you hand and then spring back to it's starting position. I'm not sure it's good enough to use as a shaper say to make a keyway. I have not tried it.
@Tom O have you tried anything like that?
I'm also not sure if the spindle is always oriented the same way when the tool is inserted with the tool changer. To do shaping operations it would need to be oriented correctly - how does it know where it is starting? There is no pin on cat40 tools for orientation like there is on R8 spindles for example.
EDIT-> no that is not true. There are two notches which have to be aligned for the tool to go in. So I guess it does know about alignment along the axis. If you installed the tool in the correct direction it should be consistent between tool changes.