No. Any update operation attempted on an ADO recordset, which is based on an un-registered geodatabase table, will fail.
If you wish to edit the recordset, either register the table with the geodatabase, or use a native OLE DB provider for the database you are connected to. Please refer to the ArcCatalog online help for further information on registering tables.
The ESRI OLE DB provider is not available through the ArcGIS UI. This article only applies to developers wishing to write custom applications to edit ESRI data sources.