Hode3D is only a renderer, that is, it only handles the graphical parts of your game.
You will also need a separate library to handle sound/networking/etc...
Yes an MMORPG can be made with this, but as I've said, you'll also need other components to handle the sound/networking etc...
Also, if you're a complete newb, then I really recommend you don't try and make an MMO of any kind... It's a really big task. Really big!
Instead of trying to make your first game a MMO, you'll probably have more success if you start out making a simple single-player game (even pong!), and then try and make a small-to-medium sized online game once you're comfortable with your skills.
Then once you've made a small online game, then maybe it's time to have a go at an MMO
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Here are some other free libraries that you might be interested in:
Sound -
http://www.openal.org
Networking -
http://www.rakkarsoft.com