Yes, you can modulate any of the parameters on the left side of the window, just like any other parameter in Reaper. Click on one of them and then click Param > Show track envelope. If you are missing any parameters you can even program them in yourself.
It is now also possible for the video processor to use the audio of a given track as a parameter, using the "JS video sample peeker" effect.
You then have to use one of the video processor presets called "Decorative" to see how it works.
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