not that i've found.

actually, i've just noticed that version 1.2.1 allows me to supply a sketch name on the command line

./processing ~/sketchbook/D/Donut.pde

and will open that in the editor. which might not be what you want but which is an advance on previous versions i've used.

also, if you export your sketch as an applet then you can use

appletviewer ~/sketchbook/O/Owls/applet/index.html

which might be close to what you want (appletviewer is like a cutdown version of a webbrowser)