Hi Sam,
No. You will need to have Adagio Multicurrency installed if you do not correct the MC setting in the company profile, before attempting to use in Adagio.
Go ahead and test at any single currency site. Simply attempt to open MC sample data for any company without the MC module installed and you will see. It's not a matter of having the transactions posted for the module in MC but rather correcting the MC flag in the company profile.
You can just get past the login and you will be told that MC is not installed. And then it's so sad, too bad.
It's not a difficult fix. Just use the GV R/W and a couple of cycles of DIC, and you're done. Or buy MC. This is the best free advice you can get.
Brian