handgunhuntr: Yes, a revolver can go out of timing. I am not the most knowledgeable on this but I do know it happens. I have had this happen with both S&W and Colt revolvers.
From my limited experience I think the cause was the interface between the advancing hand and the indexing star (er whatever it is called) on the back of the cylinder. The indexing star would get gouged where the advancing hand impacted and after a while the cylinder would not advance to the proper position. I would get lead shaving and spitting as well as powder blown back at me. In real severe cases I can understand how it would cause a misfire by not properly indexing the chamber so the firing pin would properly impact on the primer, or if it was that far out of time it may cause enough lead shaving to jam up the piece.
My only cure at the time was to either send or carry the revolver back to S&W for repair, and they always fixed it properly (until I broke it again). Colt, on the other hand, didn't want to see a guy in uniform bringing back a Python for repair and would send me on my way telling me to send it to one of their factory repair shops.
But, if you have a revolver out of timing, call or e-mail the factory and see what they recommend for repair. Hopefully they will take car of the problem for you.
Maybe some of the other folks have some better suggestions. HTH. Mikey.