I would say Yes. I have a few of these types of USB capture sticks and MEP is able to record from them all. The only issue is whether the driver for the stick is a separate install or whether you need to have Video Saver installed as well to provide the driver.
Have a look in the Windows Control Panel/Device Manager, in the Sound Video and Game Controllers section. If you can see the capture stick there, MEP should be able to use it.
This shows my IO Data GV-USB2 capture stick:
and here's what it looks like in MEP:
You could ask Magix Support via the link at the top of the page; just keep going through all the pages. When you get to "find a solution", type in anything then on the next page, at the bottom, click "Send a support request". Then you can type in your exact query which will go to a human.
The other option is to install the trial of MEP (I assume/hope the trial will allow analogue video capture!).
I too would agree with @AAProds comment, however do make sure that you are using the latest driver for the K0065 which is available here - select the Premium driver, this works for both the K0065 and K0067.