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Amzingly it appears that you can. Look up user ayush29k he installed a hybrid Jellybean ROM on his Galaxy Ace but unfortunately I couldn't find a guide on how to do it on this site. If you check through his posts though you will find some mention of where he found one. The stuff he used to do it appears in his signature.

Android 4.2.2 is the latest and that's still Jellybean. Stay away from 4.0.3 most ppl say ICS is complete crap compared to Jellybean on most phones lol. I believe you'll like a "3rd party software" way of installing the latest Android version anyways because it's almost always better than stock, over clocking, theming, just about anything you can think of.![]()
Samsung has been notorious for never supporting any device they make with software updates...
Android is open source. However, it's generally against terms and conditions and warranty of the carrier to modify devices. It's your choice if you believe you should be able to modify the device you own against your carrier's wishes.
It isn't normally difficult to root and install roms. Google "[device name] root" or find the device's sub-forum here. Then move on the finding a ROM you like.
So, these ROMs are essentially upgraded firmware, but by a 3rd Party?
or are they are more like jailbreaking software?
No, jailbreak is like rooting, its just getting admin access. ROMs are basically third party Android installers.
For example, Samsung phones use a Samsung made Android ROM, while HTC uses their own ROM. CM ROMs are Android ROMs prepared by the CM team.
