Yes, but not the editing part.
But you can simply add a [priority] field to your table and do a record edit via code from the double-click event of the list box. Your code would grab the record ID, find that record in the table, make the edit, then refresh the listbox. Or you can simply run an update query and refresh the list box if you're not into coding.
The [priority] field can be a Yes/No field giving you the check box that you want, or you can make it a number field that holds a priority number. Or simply just text that says "HOT!".
Personally, I wouldn't use a Yes/No field because it will give the user the impression that it's a fully functional checkbox. Instead, I would use priority *levels* and use a popup form displaying "Select Priority Level" also showing their descriptions.
Hope this helps,
Mike Dorthick