No, the applet can not process the SD file directly.
I suggest to write a pre-process module for your SD file and feed the applet with its output.
With other words, write a JSP page that process SD file and write applet parameters dynamically.
I recommend to investigate JChem JSP examples. Actually, they do the same (set molecule and labels separately to each cell). Its output looks like that:
mview_name="mview";
mview_begin("../../marvin","752","965");
mview_param("rows", "6");
mview_param("cols", "3");
mview_param("bgcolor", "#e0e0e0");
mview_param("border", 1);
mview_param("layout", ":3:2:M:0:0:3:1:n:n:1:10:L:0:1:1:1:nw:n:0:10:L:1:1:1:1:nw:n:0:10:L:2:1:1:1:nw:n:0:10");
mview_param("param", ":M:150:150:L:10:L:10:L:10");
mview_param("rgroupsVisible", "true");
mview_param("cell0_0", "wrap molecule source into a single line and escape linebreakswith \n");
mview_param("cell0_1", "ID: 2292");
mview_param("cell0_2", "C21H20N2O4");
mview_param("cell0_3", "MW: 364.3945");
mview_param("cell0_4", "");
mview_param("cell1_0", "wrap molecule source into a single line and escape linebreaks with \n");
mview_param("cell1_1", "ID: 2294");
mview_param("cell1_2", "C15H21O6P");
mview_param("cell1_3", "MW: 328.2974");
mview_param("cell1_4", "");
...
mview_end();
You can find the source of the JSP pages in the jchem package. Theirs online version is available on the ChemAxon site: JChemBase JSP implementation