I had a gut feeling the answer to this was yes, but decided to go ahead and test it.
Note, I only tested this in PAC Display Pro. I don't have PAC Display Basic on hand to test it with that, but suspect it may not work.
Create a strategy with no charts, variables, nothing. Attach a controller, matters not what type, or its IP address because you are never going to download this strategy, but it still needs to be configured in PAC Term. Be sure and configure your I/O racks the way you want them in this strategy. (Import them via PAC Manager if you like). The IP addresses for the EB's must be correct since this is how PAC Display is going to get the data from them.
Open PAC Display Config. Set up your control engine and the strategy you just made. Click on 'Configure -> Runtime -> I/O Unit Tags'. Make sure that the EB you want to get data from is there and that its check box is checked.
Build your display's accessing data from the I/O points.
Done, done and done.
The strategy is only there to give the I/O unit IP address and point names to PAC Display. It is never run. This is the key.