I think it may throw up an error. as its the flash bios it doesn't boot from the DVD, the disc is inserted after making selection of the flash method.
If you put in a HDD from another machine that is locked then the eeprom check would have to be bypassed as the drive is paired to the eeprom. You will have to try it and see.
You could have avoided the uncertainty by getting the blue type with a hacked bios already on.