I would say Yes.
If you use EPi v 4.50 or later alot of events is written to the logsystem.
Information about logs build in to the system can be found in this TechNote.
http://www.episerver.com/downloads/Documents/TechNotes/EPiServer%204.51/Logging%20in%20EPiServer.pdf
And information about how to redirect event messages to the windows eventlog can be found here.
http://logging.apache.org/log4net/
Please publish your result here when you've found out how to, or if you have more questions I will try to help more.
/HAXEN
Hello,
This could help us. We are using MOM and I think it's possible to config MOM to check the EPiServerLog\Monitor folder for errors and new messages.
/Tomas