Majority of the time, no. I back off a bit, as obviously I'd expect they probably don't want to have to see me all the time after that, but still maintain genuine friendliness and usual behavior . I've been through this a lot with guy friends, as I've always had more guy friends than girls.
But unfortunately even if they continue to be my friend afterward, its short-lived. Soon enough in most of my experiences, they usually switch cold, and sometimes eventually no acknowledgements either, despite my continued efforts.
I don't expect the guy to be able to pretend nothing happened in these situations and keep hanging out all the time, but when/if it gets to the point where they just blatantly ignore you as if you've never even known each other, that freaking hurts. I know it hurts to be rejected romantically as well, but people can't help who they are romantically attracted to. But to purposely/ knowingly become completely cold on someone who was not a girlfriend, BUT still a friend, is way harsh.