Since it says code will be run on the kernel it's unlikely.
A hair brained idea I just came up with. Perhaps a tiny memory dumper for Arm9? One could try and overwrite the smallest possible areas of Arm9 kernel and dump the areas not overwritten. Then simply repeat the process with the code being run from different memory offsets. One could then "piece" the Arm9 kernel back together this way. Of coarse one needs a way of getting write access to the SD card at this stage. Just throwing out ideas.
The challenge would be doing this all in Arm9 as I'm pretty sure Arm11 does not have access to the memory Arm9 kernel runs at. (would be in the Arm9 exclusive area only Arm9 can see)
At this stage the only other solution is to use external hardware and soldering to certain points on the motherboard to intercept data from the Arm9 CPU and dump it's memory. I'm sure there's ways of dumping ram via physical mods the console but there's way fewer devs out there with the means of doing it this way.
That or one could just decrypt a 9.2 nand dump and examine the TWL FIRM section of the firmware as that's the part the Arm9 uses I believe. I assume you can gen xorpads for system NAND while on 4.5 and be able to decrypt it again once on you updated sysnand back to 9.2?
The unique per console encryption doesn't change, so I don't see why not. Perhaps xorpads need to regenerated with the slot0x25KeyX once you gain access to the firmware files as those are also encrypted to the new 7.x keys. The NAND encryption is just filesystem encryption I think and just one layer of the encryption you have to get through.