I've looked at it last week, and it is possible. Not on the Compact Framework but on the 'regular' Windows. I used the SqlServerCeDriver that already is in the SVN version and created a quick and dirty SqlEverywhereDialect that worked quite well. It's submitted via a
Jira issue, so it might be available in the next release.
Personally, I'm pretty excited about SQL Server Everywhere. It has a very small footprint, much better SQL support than Access and as a bonus you'll get the replication mechanism via http that already was available with SQL Server CE. Could be a great solution for occasionally connected clients.