Yep, the scrollwheel works exactly like a rotary encoder and can be used like one in qmk (see linked config).
I first tried the setup by wiring the wheel to the original mouse pcb and after confirming that I like the setup I set it up in QMK, which was very easy, but I had to unsolder two resistors for the leds on the pro micro to get two additional pins that I had to secure with hot glue. The Frood has more pins, so after moving to them it is easier.
Got the model directly from the creator‘s github at https://github.com/Bastardkb/Skeletyl Had a friend print it for me. It was quite laborious to get all the support material out, I think my friend ignored the recommended print settings 😂 Other than that, it was pretty easy. Do you have any specific question?