No. Why? Simple.
I tell people when I mute them ingame, to give a heads up to the tribunal that I muted them. This is so that if I get reported for no communication, when they see my statement "I muted X," they realize that I simply didn't want to communicate with them. Usually it's pretty obvious immediately why I muted them, but later on they might become serious and get upset because I am not responding to them. Chances are that they wouldn't stop anyways, so keeping them in the dark does nothing better, whilst letting them know at least has the chance of them stopping due to falling on deaf ears.
In the case of extreme toxicity, I actually encourage my team mates to mute the aggressors. Why? because I don't want my good teammates sucked into it any more than I want to be sucked in. A simple "Guys, all he is doing is spewing toxicity. Just mute him so we can enjoy the game." goes miles for keeping the rest of my team from fighting with the rager, though they don't always listen.
If the enemy team starts randomly responding to the dude, I just politely tell them that I already muted the rager so they don't feel left in the dark. I usually get sympathetic feedback, as most people understand what it is like to be with a full on lvl 85 keyboard berserker.
I don't feel I should be reported just for clearing the air to my fellow players and the tribunal. If there was a team wide announcement that happened when I muted them, I wouldn't feel the need to say anything.