The answer is no, and I doubt if it is possible in any other ereader, either. You can have multiple books open at the same time on a PocketBook, so you can quickly jump between what you're reading and some kind of dictionary document. There is no way to automatically start a search in the latter based on choosing a word in the former, though, in the reading apps that come with the device. You'd have to type in the word yourself for searching in the dictionary document.
As I mentioned earlier, PocketBook dictionaries are in a proprietary binary format. They contain structured information for finding word matches (mappings for character and morpheme translation, as well as the keyboard layout to be used when searching). The dictionary app doesn't just do a straight search for a string in a document. As far as I know, dictionaries loaded on the device have to be in this proprietary format to work with the interface.
What I said above applies to the built-in reading applications. There is a port of koreader for PocketBook devices, which has it's own stardict-format dictionary support.
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