I don't see anything there that has modified your System Menu. If that is the case, and you are at 4.3, then there shouldn't be any danger with allowing the update that is on the game. However, it might make another homebrew program not function again, if it uses a patched IOS, since I'm guessing that one of your IOS or Channel files is missing or outdated.
My System Menu runs on IOS80, I didn't touch it all. Does that mean it is safe? Also, I trucha patched IOS36 (or whatever IOS I needed to patch) so I can cheat on VC/WiiWare, so would updating disable that?