tsarI've been changing the info.vdf so the "1" is a "2" and deleting both GameMenu and MainMenuOverride. Some huds like WavesUi and FlawHud are crashing when you hit the "Find a Game" button (looking for a fix), but other than that, they work fine.
So it's not really "updating" so much as "quick patching so your HUD no longer crashes the game".
InoI just tested ahud and while in-game is fine the menu is bugged. From a quick glance the experience tracker is off and you can't redeem war paints at all.
That's because he didn't update anything. Your HUD animation files will still be missing all the new stuff, and any ingame menus other than mainmenuoverride and gamemenu will be missing new elements/changed elements.