Yes and no. The original PC version does have a mod called 'FF7Music' available that allows custom soundtracks to run, but it's very fiddly and takes a lot of tinkering to get working. The details can be found on the Qhimm forum at Qhimm.com Forums - Index (
http://forums.qhimm.com/)
As for the latest digital download release, I'm pretty sure the above mod will not work with it, on account of the game having a constant connection to SE's server and nasty DRM apps running in the background. That's not to say that it's not possible - just so soon after it's release it's likely that there would be no mods available that can work with it at this time I'm sorry to say.