If you mean can it start like 2.6 did with black everywhere around a widescreen, then currently no there isn't. You can start the screensaver manually then move the window and drag the corners manually situating it in the center of the screen where you want it then set it as your screen saver.
It will start in full screen mode and you can then hit the "F" key and it will switch to windowed mode where you situated it before without losing password protection. No desktop icons will be visable, depending on your OS of course, I can't see any using XP Pro. But, I can still see the desktop itself.
Only Jim can answer if sometime later he might implement blacking out the desktop and letting windows start it in windowed mode as a locked saver.
It will then look like this:
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