Nope. This was a real bummer for me in my developmental version of emphatic, since scrolling lyrics requires much better than 1-second resolution.

The best hack I was able to implement involves using my own offset timer which resets when the value in 0x28 changes, and is added to my own "track time" variable with each iteration of my program loop. It's ugly, but seems to do an okay job. So the resolution goes from 1-second to about 1/20 of a second in my case.