Answer
Yes this is possible, by running the attached FindTreeItem tool (on the right hand side frame).
This tool was created using Wise Script. It asks for the ItemGuid that you are trying to locate within the Altiris Console, the SQL Server name, the database name and the version of SQL that the NS is using.
It will then produce an output within Notepad which starts at the root tab item and works its way down the tree, stopping at the tree node that contains the item that you are looking for.