__call() is a magic-method of PHP, not any particular framework. It's impossible to answer this question without any context since __call() is defined in a particular object, not globally. Since CakePHP touts the fact that it is php4 compatible and __call() was introduced in php5 I would say no.
I looked at the production branch for Models and there is a call__() method, which looks like it tries to emulate PHP5's __call().
https://trac.cakephp.org/browser/branches/1.2.x.x/cake/libs/model/model.php?rev=4211#L437
Edit (Responding to comment):
Looking at Cake's base controller, there does not appear to be a 'catch-all' method available in controllers that mimics Zend's implementation of __call(). Your alternative to accomplish this would be to setup a route similar to cake's page route to catch all actions directed at a controller and send them to a single method.
Cake Trac for base controller:
https://trac.cakephp.org/browser/branches/1.2.x.x/cake/libs/controller/controller.php?rev=4211
Cake documentation on routing:
http://book.cakephp.org/view/46/Routes-Configuration
One of the examples in that documentation I referenced looks like something you can play with to accomplish what I mentioned above:
Router::connect(
'/cooks/:action/*', array('controller' => 'users', 'action' => 'index')
);
Regardless of the given-action, always use the index action.