Probably. Ultimately you should ask a lawyer, but I think you will not have problems with names like "Spazztastic Photoshop Plugin" or "Joe's Ultimate Delphi Image Processing Library". These names incorporate the name of another product, but the name is pretty clear that your product is different, and is an add-on product that is meant to be used in conjunction with the other product.
I think you'd only run into trouble if the product name might lead people to confuse your product with another product, such as "Mike's Photoshop", or "Super-Awesome Photoshop". These names could be seen as trying to make your product pose as the other and potentially steal uninformed customers.