http://stackoverflow.com/questions/9867471/zebra-striping-nested-lists-with-css
Short answer, no. Long answer, yes, by targeting the nested items, eg:
li.nth-child(odd) {background:blue}
li.nth-child(odd) li.nth-child(even) {background:blue}
li.nth-child(even) li.nth-child(odd) {background:blue}
But beyond 2 or three levels you're probably going to need a lot of rules.
You could do it with javascript as well, by walking down the tree and incrementing a counter, applying the style when the counter is odd or even.