I don't think so.

See, I don't think Fredo was that dim. He didn't want Michael dead, thats for sure. He MIGHT'VE been more caucious and all. Still, he WOULD be an easy target for Michael's enemies, which is what worried Michael.

Michael also might've looked it from ScarFather's POV, because he was at that time, to phrase Coppola, "as mad as Nixon".

The higher up you go, the crookeder it becomes..