Worth a shot, I don't see why not. Just make a Nandroid Backup in CWM before you flash just incase something goes wrong you can boot back into CWM and restore your backup.
So, to clarify, I'm on the green (CWM 2.5.1.0) after doing your EC05 update/root all-in-one. To do a Nandroid backup, I:
Entered CWM by holding down Up+Camera+Power and then shifted quickly to Down+Camera+Power.
Scrolled down to "backup and restore" tab.
Hit Camera button
Scrolled to the "backup" option
Let it run thru the sequence.
Is that it? The items it said it was backing up appeared to be all the items on the phone --> Just gotta be sure -- My wife will kill me if I have to spend another weekend day getting my phone back in order!

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Yep that's it. That's a complete backup of your devices, os, data, settings, contacts, kernel,c theme, etc.... so if something goes wrong when you flash the kernel all you have to do is get back to CWM and use the restore option.