No I don't believe it can, although I've heard that you can mod your iPod with iPod linux, which apparently may make it possible. I don't whole heartedly believe that though, as far as I know software mods don't make things work without the proper hardware.
It may be possible. I wouldn't risk it, but some claim that iPodlinux can turn a non-video playing iPod into one that displays some video. Use at your own risk..