Yes, it is possible to load objects out of sequence. For setting the version one can use VersionControlSErverHerlper API's as shown below.
VersionIdentifier vid = VersionIdentifier.newVersionIdentifier();
VersionControlServerHelper.setVersionIdentifier(the_versioned, vid, false /* validateIncreasing */);
Similarly for iteration one can use IterationIdentifier API's. As shown below
IterationIdentifier iid = IterationIdentifier.newIterationIdentifier();
VersionControlHelper.setIterationIdentifier(the_iterated, iid);
A detailed code snippet can be found at <WT_HOME>\src\com\wt\doc\LoadDoc.java
-Malavika