^Doubtful, and that was probably just because Andy didn't have to sing lead. They haven't played in front of a real audience since 1982. You'd be more likely to get a full Talking Heads AND Smiths reunion.
Also, Andy's got stage fright (either that or he hates touring) and bad tinnitus.
He was addicted to Valium and his wife threw out his pills. He freaked out, walked off one show and refused to go on stage for the next one, and hasn't played a real show since.
I had never heard the tinnitus thing before, I thought you had him mixed up with Danny Elfman. (Who, coincidentally, was opening the show he didn't show up for.) Found a bunch of articles from around 2007 that said he had a "studio accident" in 2006 and that he was using some kind of "reverse hearing aid" that was supposed to cure it.
I can remember an interview back in the early 90's where Andy more or less says he will not play live because of his extreme stage fright. I would assume Coachella is no exception. To look out into that sea of people would be hell for him.
In addition to his stage fright he also made it sound as though every aspect of playing live didnt appeal to him. He said something to the effect of not wanting to appear as being a sweaty gorilla prancing around on stage.