In my experience if you've rooted your moto g then no.
I was running stock tesco moto g rom on 4.4.2 with supersu pro including the OTA survival and CWM just went into a boot loop unable to install the new firmware. The phone would then boot up, supersu then would kick in and the phone would reboot back to attempt the update installation again.
The only solution was to wipe the cache in bootloader mode as follows....
1. With the phone powered off, press the VOL UP + VOL DOWN KEY together + POWER KEY .
2. The device will display different BOOT OPTIONS
3. Use the VOL DOWN Key to SCROLL to Recovery and VOL UP Key to SELECT
Tip: If the device reboots, you may have waited to long to make a selection, you will need to begin the process again.
4. The device will display the Motorola logo and then the Android in distress ( logo with Exclamation mark)
5. Press and hold the VOL DOWN key, then tap and release the VOL UP key.
Tip: You can try this step, holding the phone in landscape. If you are stuck on step 5, try a force reboot by pressing the power Key and Vol Down key, and start the process again.
6. The device will display additional menu options (Text will appear in BLUE)
7. Use the VOL DOWN Key to scroll to wipe cache partition and the POWER Key to SELECT this option.
8. The device will then perform the partition wipe
9. Once the Formatting is complete, press the POWER key to confirm a REBOOT
11. The device will reboot and start the normal power up sequence .
As I was using the original rom anyway I can't understand why cwm recovery didn't like it. but hey my phone still works.
As for updating it, who knows.......