Yes, it is possible.
Hold down the Ctrl key on the keyboard and double-click the mouse to enter edit mode.
*)In Ver6 Rev5 and later, "Edit Group" has been added to the menu that appears when you right-click on a grouped object.
For more information on editing groupings, see
here for more information.
*)The link is to the description of "FA-Panel", but the contents are common to all Panel products (FA/PA/BA).