IMHO this is more or less possible but there are two problems that come into my mind.
1. There are no port visualizations in yEd. This is probably a minor problem since you can define separate "arrows" for each end of a link and solid dots and arrow heads are available.
2. There are no named ports in yEd. (In fact, there are no ports at all, at least not as separate objects.) As a workaround, it is possible to add an unlimited number of independent text labels to each link and the labels typically keep their relative location while moved. For your type of diagram, you can place the port labels at the end of the links inside the nodes and changes are good that interactive movements and the layout algorithms keep the appearance of "port labels". For the signal labels, you can use a white background to create the appearance of an interrupted line.
Overall, I suggest to experiment with a small example an see how much you can achieve. Good layout algorithms for your type of diagram are the (obvious) Orthogonal Layouts and the Hierarchical Layout. Make sure to turn of the setting for Edge Labeling if it is available for the algorithm you'll using.
Please let me know if there are any problems.