Not currently... I think a bit of work is needed at first to make it "32bits" compatible, and only then to make it run on ARMv5,6,7 CPU/memory architectures. There was an emulation layer which allowed 26bits applications to run on 32bits native hardware (named Aemulator, which I do not know the current business/development status).
As I received the RPi recently, then I might work on it, once a suitable RISC OS build being installed on it and my DDE updated as well.
The snapshot provided here is just to show that the emulator can work from a window within the RISC OS desktop (by a using the "Smalltask" virtual screen utility) but I originally designed it to be run in full screen mode.
Source code is provided (mix of C and assembly) with manageable sizes for the less than 10 files included (assembly is heavily macro based).
So briefly stated, I would advice to stay tuned but not to hold your breath
.
Regards,
Benoît