Not directly as of at least .NET 2003. I don't know about 2005. However, you might switch to a property instead of a variable during testing so that you can set a break point in the property set procedure. Something like this:
[code]
#Const USE_PROPERTY = 1
#If USE_PROPERTY = 1 Then
Private _intX As Int32
Private Property intX() As Int32
Get
Return _intX
End Get
Set(ByVal Value As Int32)
_intX = Value 'break here
End Set
End Property
#End If
Private Sub SomeProc(ByVal arg As Whatever)
#If USE_PROPERTY = 0 Then
Dim intX As Int32 = 0
#End If
For Index As Int32 = 0 To 19
If Index Mod 3 = 0 Then
intX += 2
End If
Next
End Sub
[/code]