Indeed, it is! The references are resolved in TReader.FixupReferences and are based on component names. To wire the datasource on the datamodule to the controls on the form, the datamodule has to be created before the form loads. As all forms and datamodules register themselves in the Screen.Forms and Screen.Datamodules lists, they are found by simply iterating over these lists in the Vcl.Forms.FindGlobalComponent procedure, which is registered via RegisterFindGlobalComponentProc.
You can register your own FindGlobalComponentProc this way, which takes precedence over the internal one (System.Classes.FindGlobalComponents uses a reverse loop). The implementation might be a bit tricky, though.