Yes. Convert the bitmap data to an 'ILArray' and use that for plotting the common way.
ILPanel does not have axes. You probably mean ILPlotCube? You can control the axes via the ILPlotCube.Axes property.
The line properties for the edges of the plot cube are controlled by the ILPlotCube.Lines
property.
Link to the class API reference docu for the ILPlotCube class: http://ilnumerics.net/apidoc/?topic=html/AllMembers_T_ILNumerics_Drawing_Plotting_ILPlotCube.htm