No, I doubt it! I don't think even blocking the actual update will give you access, you need to run the update first to access the e-shop second.
Much like with the 3DS you'll need a way of spoofing the system version to make it think you're up to date. Doing so will most certainly not be the same method that patching NIM on 3DS does. WiiU may handle things differently so it may not be as simple and might require more access then current exploits allow. Time will tell I guess.
Can you still update smash bros itself, I remember I was able to do that before and stay on 5.3.2, do you just unblock everything/update smash/reblock?
Can't say for sure since I'm not gonna update my 5.0.0 Wii U until kernel is confirmed working, but I'd imagine they'll let you function with games normally minus online. Click on it, it starts downloading update, and you can either wait or start the game as-is. Not sure if they're mean enough to make you update to download game updates (they do on 5.0.0 but newer versions would probably be more lenient).
I tried it a couple of days ago and it wanted me to update the console. Damn, I can't even transfer things between my 3DS and my WiiU anymore! But I'll wait and hope for hackings sake. Go you guys! If you have the time, of course. :-) In the meantime I'll play Smash on the 3DS. It has much better stages anyway.
