I would imagine so just pass the file through the aes system and output the decrypted data, that's assuming you know how it all works XD
I was asking smea if it might be possible to create a downgrader using the 7.x exploit by doing it the other way around and getting a decrypted 4.x dump encrypted by the 7.x exploit to make a valid 4.x dump for a console that didn't previously have one, he said he wasn't sure if it would be possible using the new exploit but, but again I don't know any technical details of any of this stuff but though it sounded somewhat possible assuming the new exploit has the potential to pass a file through the aes engine in user mode, then again I could just be a big idiot who doesn't understand in the slightest about what would and wouldn't be possible XD