No. The general philosophy of this plugin is to enable functionality that is otherwise unavailable using standards-based web design. Drop caps can be implemented using CSS. Here is an example:
/* drop cap */
.mainContent > .header + p:first-letter {
/* assumes paragraph line-height is 20px and font-size is 14px */
display: block;
float: left;
margin: 0 2px 0 0;
padding: 6px 0 0; /* for Firefox: (line-height - font-size) */
font-size: 70px; /* (3.5 * line-height) */
line-height: 49px; /* for Safari: (3 * line-height - 11px) */
text-transform: uppercase;
vertical-align: top;
}Class names and dimensions will need to be adjusted to your specific application.