Not completely yet. But, the Visual Studio 2013 Update 2 RC release seems to be a step in that direction. This update includes PowerShell syntax highlighting in the Visual Studio Editor.
We still cannot select and add a PowerShell script as an item. Instead, I selected a text file and named it as .ps1 file.
The syntax highlighting is a feature built into the product and not an extension or add-on. So, I don’t see a reason why this won’t be available in the Express edition of Visual Studio.
PowerShell script debugging and IntelliSense are on top of my wish list for Visual Studio. I’d love to see other features such as ability to author script modules as a Visual Studio solution etc. These features may already be on their way into the product. Until then, I will go back to Windows PowerShell ISE!
You can download the VS 2013 Update 2 RC from Microsoft download center.