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Yes, via a new standard from W3C's Web Accessibility Initiative. The Accessible Rich Internet Applications (WAI-ARIA) specification provides a way to pepper page markup with the additional accessibility information needed by users of assistive technologies such as screen readers.
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Mega Drop-Down Navigation Menus Work Well (Jakob Nielsen's Alertbox)
Given that regular drop-down menus are rife with usability problems, it takes a lot for me to recommend a new form of drop-down. But, as our testing videos show, mega drop-downs overcome the downsides of regular drop-downs. Thus, I can recommend one while warning against the other.
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Guideline 1.2 Time-based Media: Provide alternatives for time-based media

