No, it relies too much on GM8-isms. Tried messing around a bit in it and it has issues importing the file because of illegal names, and weird "undefined value" crashes when run because globalvar variables don't default to 0 when declared anymore (?)
Any chance of doing a crowdfunding campaign to remake this game in Unity? The Unity engine has a prebuilt setup for RPGs; you'd just need to take the time to manually recreate things.