Yes. Choose ISP -> Go... and enter a starting address in the RAM address range.
First the nitpicking: why is this hidden under a menu item, when a suitable checkbox is available on the main screen?
Second: sadly, it does not work. I have a .hex file that runs OK when uploaded with Insight/Wiggler, but not with FM. I did try it with the Philips Flash utility (I hope I did not make any changed after that) and that *did* work. I see no option to attach a file, but I could cut-n-paste the .hex if that is OK? First part of the .hex (in a dump format) is shown below, I think I correctly skipped the area that should be left to the bootloader.
40000000: 18 F0 9F E5 18 F0 9F E5 18 F0 9F E5 18 F0 9F E5
40000010: 18 F0 9F E5 18 F0 9F E5 18 F0 9F E5 18 F0 9F E5
40000020: F0 03 00 40 00 03 00 40 08 03 00 40 10 03 00 40
40000030: 18 03 00 40 20 03 00 40 28 03 00 40 30 03 00 40
40000300: 01 00 A0 E3 18 00 00 EA 02 00 A0 E3 16 00 00 EA
40000310: 03 00 A0 E3 14 00 00 EA 04 00 A0 E3 12 00 00 EA
Third: when I enable verification, FM hangs.