No, or at least I don't think so, a wildcard domain as also named an "Astericks" Domain. Try namepros, they have astericks domains enabled go to http://ahdkhajkdhjkahsdncmn.namepros.com and it will forward you to the main site. The way the script you are using works is that it takes the ahdkhajkdhjkahsdncmn and finds the reference in the MySQL database, and if it isn't there ist will forward to the main site.
Well if you're interested and you have a backend control panel you could fetch the subdomain creation page using your language of choice. You can use that language to manipulate your backend to automatically create an actual subdomain ( but the server thinks that it is a real user in the backend)
Hmm thanks for your help guys, im guessing ill just have to get someone to setup my wildcard dns for me, as the script is ready to go, but i had probelms using pico in SSH.
There is another way, and that's using CPanel's api to setup subdomains in cpanel automatically, but a wildcard DNS is the easiest way to go, and as far as i know, the only way.