Update: According to Notch's blog post about changes coming in 1.6, the torches-on-fast-leaves bug is getting fixed:
- Fixed buttons and levers being placeable on leaves in “fast graphics” mode
This means that monsters can no longer spawn on leaves, either, as they are always considered transparent, even when using Fast graphics.
Monsters can spawn on any solid, non-transparent block which is at light level 7 or lower.
Signs, torches, rails, and the like are ignored when spawning monsters; they'll spawn on the block underneath just fine. This is why one-block-wide railways need to be lit.
Transparency means whether or not light passes through a block rather than whether you can see through it. Half-blocks, doors, stairs, and glass all count as transparent and prevent monster spawning. Leaves, oddly, count as transparent only when Fancy graphics are enabled. An easy way to test a block for transparency is to try placing a torch or sign on it — neither can be placed on transparent blocks. (Meaning that torches can be placed on leaves with Fast graphics, but not with Fancy.)
Torches put out light level 14, so monsters can't spawn within 5 blocks of a torch orthogonally or 3 blocks diagonally. If you put your torches in a diamond pattern, they can be up to 9 blocks apart, but it's best to move them closer than that on uneven terrain. (I use 5 myself.)
If you like, you can actually torch your treetops by changing your graphics to Fast, placing the torches, and switching back. Your torches will stay rooted, even though you wouldn't normally be able to place them that way. Personally, I think it makes them look rather cheerful. :-)
Best Answer
No, but technically you can plant a tree using a dirt block on top of/inside another tree to grow another tree. This sort of expands the tree, but the second tree will grow normally (and requires the same conditions as a normal tree to grow), but with a little bit of work you can grow huge "trees" and prune them to your liking this way. The top tree will still grow leaves, but it might be a small tree and thus not as impressive. You can always replace/regrow a tree anywhere you want inside the 'base' tree though.
Remember you can also use Shears on Leaf Blocks ti collect them, and you can make your own tree manually with Leaf and Wood blocks, but they won't exhibit some of the properties of properly grown trees like natural branches.