No. Documents that consist of FrameMaker objects stuck on the page with a fixed position cannot be translated. This is because such documents do not define a sequential order for the contents. The only way to translate such documents reasonably to the WWW context is to translate the pages as graphical images!
WebMaker translates the contents of Text Flows. Paragraphs must therefore be in Text Flows and pictures must be in Frames anchored to a position in a paragraph.