Right now, Dropbox will only sync the files in your Dropbox folder.
However, there is a way to sync a folder using Dropbox and still access it from outside your Dropbox folder. For example, say you want to use Dropbox to backup a folder and make it accessible from all of your computers. However, you still want to be able to access it from its current location. In this instance, you can move the folder you want Dropbox to sync into your Dropbox folder and set up a shortcut (Windows), alias (Mac OS X), or link (Linux) to access it from its former location.