It happens all the time. Take "decimate" as just one example of hundreds that come to mind. It once meant to reduce by one-tenth. But through common usage it has come to mean:
What's my incentive to do this? I post an interesting and relevant fact, and get downvoted. The more interesting and relevant to the topic of discussion, the more downvotes in proportion. I prefer the company of adults.
http://www.merriam-webster.com/dictionary/decimate
"to destroy a large number of (plants, animals, people, etc.)"
But for exasperate as a replacement for exacerbate, that's more of a stretch. Not to say it won't happen.