Sure is, just like tribes2. Only problem is, you will not have near as many different functions like tribes2 has to work off.
Its sort of barebones I would say. I don't think it has vehicle support, so forget that, or AI or Turret Data in the engine.
The nice thing is, most of the code for tribes2 mods can be ported. You just need to make a few changes.
I'm using the Universal handy function library collection, release 6 for tribes2, by Mrkeen, the creater of the tribes2, tribes1, Meltdown, mod.
I gave my weapons a nice kickback when fired, in the onfire, its nice.
%obj.applyKick(-1500);