Lots and lots of folks shoot 30-06 HP rounds. A lot of target ammo is loaded with HP rounds (better weight distribution within the bullet). As to whether or not to shoot deer with them, since most 30-caliber hollow point rounds are target rounds and not designed to expand, I do not imagine it would have the same explosive expansion as a hollow point bullet for a handgun or a HP varminting round. They have a much heavier jacket. The military even uses a hollow point bullet for their sniper cartridges. It does not expand at all, does not have explosive expansion, just drills a neat little hole right through things.
And yes, a Ballistic Tip is in fact a hollow point with a little plastic wedge in the tip to make it expand. And does it ever expand! The old Remington Bronze Points and Winchester Silver Tips were almost exactly the same thing, only they used a metal point instead of plastic.