Yes.
Teams can huddle by the sideline with however many coaches during an injury timeout. We do take care to direct the team to the sideline instead of letting the coaches come out to the hashmarks, and be careful about coaches that are "attending the injured player" to make sure they are actually doing so.
I know, as a whole, our association isn't perfect in getting teams to the side zones or back in front of the team boxes if the LOS is at the 5, but that's what we should be doing. There's no dissent in what is allowed, just wing officials not always being forceful enough in ensuring compliance.