I can't give a definite answer because it depends on timing and conditions of operation. Normally, the output voltage builds up quickly (though not as quickly as the input voltage), so the reg is submitted to an overvoltage for a very short duration, which will not probably kill it first time, but after a dozen of turn-ons may damage it. For certain, if the output is shorted, the reg will see the full 79V, which is a dangerous situation.
I don't think you'll ever need 1.5 amps of phantom power (that's more than 100 mics!).
Overall, I wouldn't do it.