No. Time acceleration as it happens in Orbiter is effectively time travel. A solution for time-acc in multiplayer would have to model time travel. Otherwise it would model FTL, which would make your solution subject to "why Orbiter, then?" kind of questions.
The time-bubble solution in essence models a multiverse approach to time travel. There traveling is between "universes", each of them having their own pace and offset. The travel itself is the synching via slower/faster time-acc-setting and/or ScnEditor-like time setting.
In this solution you are not accelerating one client's ships, but the whole universe itself. It just happens to have some "universes", and only clients in the same universe see each other.
A possible extension to the solution could be "ghost" ships by means of recording a ships trajectory through time-line, and later "replaying" them as transparent vessels in all "universes".
To date, this is the only solution I know to withstand both the "no FTL" and "consistent point-of-view" arguments.
This solution has one drawback, however: causality ( ORLY? ). As with all time travels, you soon fall into paradox-pitfalls, if you use the framework for something like e.g. role-playing.
I described a possible extension to the solution to cope with this problem in such use cases. In essence it is a kind of "quantum-state" model, not only putting all Orbiter-controlled objects into the multiverses, but e.g. role-playing objects as well. If you transverse "universes", you have to decide how you merge them... but this takes too long and is too complicated to reiterate here. Just go to the MMORPG thread to read up on it.
OTOH, for a multiplayer framework, the causality problem is no real one. After all, it should support Orbiter's sandbox-style as transparently as possible.
regards,
Face