Sure is. Go to “editor” under the plugins tab. Then, by “select plugin to edit:”, pick the mailchimp plugin, and click select. There are a few files in there that you could edit, but you’ll have to poke around to find out what one.
I think you should put <?php mc_display_widget(); ?> instead. mc_display_widget(); is a php function and you need to tell the browser that you’re using the php language- which is what <?php … ?> does.
This could be entirely wrong, it’s just what I’ve worked out from messing with themes.