I have seen this more than once... The sound guy has everything all set up for a show, mostly SM57's and 58's, etc, and someone says "I need phantom power on this DI" and the sound guy hits the 1 button that turns on phantom power for all the XLR channels of the board. There is no magic smoke, the DI now works, and life is good.
I think that most of the mics that are "working man's on stage mics" can probably take it. Shure/Sennheiser/Audix/etc builds a huge part of their reputation on reliability. If you could hit one wrong button and fry the mics, that would be a huge blow to their reputation for reliability. They aren't going to let that happen. Now, if you find some vintage mic that was made before phantom power was invented, I wouldn't try it.