Yes, the Audio Box can be used to send SMPTE, FSK, and other audio-based time code feeds. You can import the raw time code feed file into Audacity and export in the 320k MP3 file format at a constant bit rate. Then, use this MP3 file as the audio file when playing your script.
It is also common practice to have the time code file act as the left or right channel only while having your audience soundtrack on the other channel. This method allows you to control other firing systems, DMX, and lighting systems to fire at the same time as COBRA. You can also use more than one audio boxes at the same time.