Contrary to the other responders here, I'm going to go with "No". I can't think of any situation where this would make a good idea.
Some quick responses to the other ideas:
- Licensing : would be very easy to circumvent
- Single library for multiple servers: I'm sorry but this is a very dumb solution to something that should be solved by syncing files from for example a
- sourcecontrol system
- packaging / distribution system
- build system
- or a remote filesystem. NFS was mentioned
- Remote library from google: nobody has a benefit to a slow non-caching PHP library loading over PHP. This is not (asynchronous) javascript
I think I covered all of them..
Now..
your question was about 'including a file hosted elsewhere', which I think you should never attempt. However, there are uses for allow_url_include. This setting covers more than just http://. It also covers user-defined protocol handlers, and I believe even phar://. For these there a quite a bit of valid uses.