Don't think it is, no. I'd be very surprised because I don't think the FS7 can record clips less than 2 seconds long. Occasionally when running 1fps S&Q timelapses and aborting before 50sec (realtime) has elapsed, I've had the friendly "Could not record clip. Insufficient duration." message (wording from memory, not exact).
Maybe a stills camera would be better for this application.
I couldn't find the same feature as the EX1/3 but I had to do some stop motion with the FS7 and used the 1 frame every 10 seconds (to allow us to hurriedly change the subject). Not ideal, but still worked.
I suppose the duration could be slowed to 20, 30 or 60 seconds? I know in S&Q it is possible to record 1 frame every second, but slower than that, I don't know.