Sure!
- Take the batteries out for a while to reset the Palm (you'll lose your data).
- Install the Palm Desktop software on your PC.
- Run the Palm Desktop program and click on "Quick Install" (at the left of the window).
It might ask you for a username now or later, it shouldn't matter what you pick.
- Drag the MMCd install files from explorer into the quick install window.
- If there is no "hot sync" icon in the system tray (at the right of the taskbar), run the HotSync Manager program.
- Right click on the hot sync icon and make sure that "Local Serial" is selected (for serial cable) or "Local USB" (for USB cable).
- Put the batteries in the Palm, start it up, plug it into the computer and sync it.
That should get MMCd onto your Palm.
//edit
Crap. I just realized that you're trying to do more than just sync with your PC, I think..
Can't hurt to try though, maybe the newer Palm Desktop will allow it to work?