not yet, but it will!
When a font is first used, a cache file is created which is faster to load than creating the font texture and vectors on the scratch.
Instead of creating this cache, you can also use a cache which comes from elsewhere with any kind of font! This could even be a font with multiple colors.
the only thing right now that's missing is an external designer who will create the cache file to use, and then you can use the FontSprite.FromStream() to load that font.
Windows Mobile itself does only have 2 kind of fonts available
But notice, that there might be some copyrights on a font which prohibits distribution!
Microsoft says: "Do not post Segoe WP fonts for redistribution or package with an application – this would violate the license terms of the font"