No, unfortunately, Flash doesn't give this information about layers. You have to do a little math.
The error is occurring on Frame 1 (you can see that after the :: on the message.)
To find the layer, you have to count the lines of code on each layer, from the top down. Flash sees it all as one long block of code. Thus, FOR EXAMPLE, if layer 1 has 452 lines, layer 2 has 12, and layer 3 has 59, you can do the math and find your error on line 57 of that third layer.
523-452=71
71-12=59
Thus, line 57, layer 3
This can get annoying. It is for this reason that the standard practice at my company for code on the timeline is to put all code (except, usually, event listeners)on a layer by itself, at the top of the stack, called SCRIPTS. Nothing else lives in that layer - it is just empty with code. It makes life so much easier.