Tried no, considered yes. Some of us concluded it wouldn't be a good idea, depending on how serious tournament is. First of all, biggest problem is we don't have hosting server with great connection, but rather various players (Maxicek, Nulio) host the game... and ping is not exactly good. At least not to have any kind of semi-serious tournament on. We simply don't have good PvP host. Don't know was there before, but today to have 100 ping or less is a miracle, and 100 is borderline of good (or should I say decent).
Same reasons, we cannot combine players from all continents. Even though Americans are inactive on pvp scene, but potential player from America would be in great disadvantage when host is from Europe, and vice versa.
But let's say ping is not that relevant. Big problem is d2 is not PvP game, it is not designed for it. For d2 PvP to work, both players must put some cards into fair play department and aim to have fun. Going for any kind of serious win changes the gameplay completely. There are PvP tournaments going on on other forum and exactly everything predicted is happening. So, what is happening?
How would you win against bowazon? Find a house and stay behind wall perfectly safe from her and wait her to come into melee range. And if she do that, she is probably dead, but otherwise she can't hurt you. How to battle with trapper? Find a house, lay 5 traps in and wait for your opponent to come - if your opponent is not something like WW barb that will crush you in such conditions. How to win against necromancer? Stale him to death and wait till he is left with no mana. How to win with hammerdin? If low on hp, charge into other side of the map and replenish life slowly with prayer and stack hammers in case opponent is after you. Ok, that won't work here since we banned prayer.
But, you get idea. Serious pvp is rather frustrating, and players on that forum are full of accuses for other side for staling or running away or chickening or something similar. It only depends on how serious that tournament is. If there is some nice prize, you can expect PvP with a lot of stalling and similar nerdy strategies. If that tourney is not serious and is rather fun, then we basically have typical FFA with statistics.
Having everything in mind, no one bothered to host such tournament. Even if he did, chances are some of PvP players wouldn't participate cause they find it rather stupid.