Sort of. These are called DeskBands, and "floating" deskbands (that is, ones not directly attached to and docked within the primary TaskBar) are deprecated as of Windows Vista. (I haven't tried these on Server 2008 R2; unknown if they work at all in that environment.)
As of Windows 7, DeskBands must occupy the same space as the taskbar itself. This is a shame, and a personal annoyance to me, because I used this trick to create shortcut bars with all my apps in the past. (I didn't need it in Vista, where I had a Sidebar gadget for launching; but with Sidebar no longer occupying the far-right and able to be always-on-top, that option is useless now to me as well.)
See my answer here for more information.