Yes, off course it is! (I mean, Nucleus is not called 'most flexible blog tool'for nothing)
You can change the amount of items showed on the front page through the skin you currently use:
You have to look for this:
<!-- page content --> <div id="container"> <div class="content"> <%blog(default/index,10)%> </div> </div>
The blog skinvar has two arguments. The first one, default/index, tells Nucleus that the default/index template should be used to format the items on the front page. The second one, 10, is what we are looking for. It tells Nucleus to show 10 items on the front page. Change that number to something you like better, and Save. Done!