on the 2d version i doubt it since thouse are opengl functions. there are fog and text functions in directx as well by the way. however i think in the 3d version fog and whathaveyou will be available.
v3 is used OpenGL by default, it supports Direct3D too though. You have nice additional stuff like pngs with alpha layers, transparent fonts etc. The OpenGL fog is made for 3D though