Yes, it is, what you need to do:
1. get the Latest Development moodle from http://download.moodle.org/
2. set up alfresco repository plugin, you can find it at admin block->plugins->repositories->Manage repositories
you can create a new alfresco instance there.
3. file picker can be lauched in html editor when you press "insert image" button.
Or, when you try to attch files in forum post editing page.
Repositories
Repository use
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