Yes, but you will have to configure it exactly the same way you would without Windows Home Server, i.e. you will need to retain a dynamic DNS service to maintain the actual domain name record, MX record (if needed), etc. in DNS, and will have to install
their dynamic DNS client somewhere (presumably on your server, since it's always on). It's not possible to use the built-in DDNS client for that purpose; it is built specifically for maintenance of a homeserver.com vanity URL.
It's also technically unsupported, but unlikely to be harmful.
I'm not on the WHS team, I just post a lot. :)