Yes it is. Just install lilo from the repository with gslapt and configure it.
You might have noticed that a lot of distros are going the other way, from grub to lilo. That's alrgely because of th elack of large inode support in grub for recent versions of ext3 and the ext4 filesystem. That doesn't affect VL 5.9. I expect 6.0 will be another story.
eMachines EL-1300G desktop, 1.6GHz AMD Athlon 2650e CPU, 4GB RAM, nVidia GeForce 6150 SE video
CentOS 6.5 (will try VL64-7.1 soon)
Toshiba Satellite A135-S4727, Intel Pentium T2080 / 1.73 GHz, 2GB RAM, Intel GMA 950
HP Mini 110 netbook, 1.6GHz Intel Atom CPU, 2GB RAM, Intel 950 video, VL 7.1