I'm using a third party app which in its current beta status unfortunately lacks customizations options for the iframe integration of that service.
Since the iframe is coming from their website, I can't manipulate it using jQuery. I understand the reason for all these security measures, but I still need to ask: is it possible to work around this limitation?
I have read about faking the iframe src and redirecting it to your own webserver, essentially creating a new iframe with the same content. Are such things possible or is it impossible what I'm trying to do?
Yes is possible, although depending on what you're doing it could be considered bad form, or a nasty hack. Here's a lib for NodeJS that will help with doing it.
https://www.npmjs.com/package/node-inject