PocketMatrix

No, it is not. However, you can load the movie as a clip into flash and rotate it, then save it as another swf. The demo version supports that. If you want to, resizing to a resolution of 320*240 should look best (fastest), as the PPC doesnt have to resize then.
If the SWF is protected, get a tool called Swiffer (I believe that's the name).
To have the full screen viewing experience, get Flash Assist (www.antmobile.com). Says trial, works forever.

It's possible, you need that Flash program someone announced here a few days back though. Not free.