I would doubt it works, but, I'm sure if you search in the effect bank folder you will find a particles folder. That is currently where reloaded stores the ones it uses so far. Indeed, I am currently working on a model which needs a weapon muzzle flash so will probably be exploring this myself in the next week.
SPECS: Q6600 CPU. Nvidia 660GTX. 8 Gig Memory. Win 7.