Yes there is.
The material of elements cut by the marquee is the same as the material set by the 3D Cutting Planes.
So if you go to View> Elements in 3D View> 3D Cutting Planes and set the 'Fill Material & Edge Pen of Cuts' to Use Element Attributes, you will see the (side/end) surface material of the cut element.
Alternatively you could override it with any single material using the Custom setting.
Cheers,
Link.