No, unfortunately not.
There is a way to make it that only some items will sync from within a personal private calendar, such as the "do not copy private" items flag.
The Enterprise Edition will have the ability to do category sync by this quarter, but any other way would be horribly slow because it would have to inspect INSIDE each item, instead of the item itself.
Kind of a parsing problem. Categories will work much better.
What some people do is set the relationship so that if the copied items are deleted in the destination, it will not recopy. This allows for an initial clean up and then any new item syncs.