no, and it would been hard to do that.
The reason is we use different sound engines in your application and not neccely use Windows Media Player.
Example I have never liked Windows Media Player, and instead I refer bass.dll. bass as my engine. This dll actuelly support audio stream plugins, which I have included near all in MultiJuke, so it support all major extensions.
There exists also VSTi/DXi (which can been used both as generated and a effects) system, which all major music sequence applications use. They might can used as plugin support to, since it a well reviewed standard (bass support these throuch a bass plugin).
Otherwice you can chooice to support Winamp DSP plugins as a effect support (bass also support these throuch a bass plugin), if you plans to change your engine to Winamp (which is possible).
I do not any plans to support any effect support yet in MultiJuke, since I dosent see any system in Linux as well (even it not even break the combatible as all, since it would been use in the sound code which have been seperated for each version).