nope, light coronas are one of the things that are still not emulated by any plugins. So far, Glide64 is starting to emulate 90% of the effect except this one. I'll talk to Gonetz about that when he'll be back.
It kind of sucks that it doesn't work in any one as I own the real cart and it's pretty much the only thing keeping it from looking perfict (if you're using gln64). Also I kind of wish that the dynamic lighting in conkers bad fur day worked. I think an earlier version of rices plugin had it showing up but all the textures were screwed up.