Menu to be displayed as jCarousel
Short: If your "menu" was actually a taxonomy tree, it would almost trivial to do what you want, and much more, as most contrib modules operate on a entity basis.

Longer: This answer will mostly be applicable to someone that does not already have a menu structure created, so for some people, it will be of little use.

While displaying a Drupal menu in essentially any way is certainly possible, the menu system in Drupal is rather aged compared to a lot of other functionality.

Generally, whenever you wanna do fancy stuff, I would recommend you avoid the menu system completely. You can even disable it completely in D7. Yes, this type of setup will require more work initially, but is a lot more flexible.