I'm not saying you can't. I guess anything is possible!
I'm just trying to guess what Apple had in mind when they added this feature.
When I publish a new site to HE, I first register the domain name with them. When they let me know its done, I add a new site in my control panel, name it the same as the one in iWeb and a folder of that name is created.
I upload the files from my local folder containing the optimized files with added tags with my FTP application. I enter the URL into my browser and up pops the site. The domain name is automatically linked to the index.html file inside the root folder as though by magic without any help (or screwing up) from me.
Updates are done using Web Site Maestro and its important to reapply your tags with SEO Tool before optimizing. I think this takes 4 or 5 mouse clicks and is very exhausting!
After the site is up and running I can then set up form mail, forwards, counter, stats and upload my folders of media files and their assets.
If you are short of bedtime reading material you can have a look here....
http://www.hostexcellence.com/index.php/v2/pages.manual
I think you should consider creating a signed copy of you Old Toad logo and market it in China.
If you use HE and sign up for Allpay, I would imagine that the 150 million Chinese subscribers will be willing to pay lots of Yuan for such a desirable item....
http://blog.hostexcellence.com/