No, it can't AFAIK.
One could mimic that by i.e playing a small movie in a loop in fullscreen on a desktop and then go to another, though.
Even more geekie is to run it a a background in a terminal (terminology) and putting that fullscreen.
We had a thread on video as a wallpaper a while back, where komorobi came up:
Addendum:
Maybe it could be usable idea/configuration as a screensaver or lock-screen, though. 
