unfortunaly not. unlike the ps2 and xbox chips/flashes that allow you to run unsigned code. the 360 still needs the files to be signed with a ms key.
the f/ware just puts the unreadable sectors in a place on the disk that are readable (hence why can copy a backup with clone but not an orig)
if you patched the file and made it region free. you would also need to resign the files to work. this sounds a whole lot easer then it actaully is.
if one day were able to run unsigned code on the 360. then patching would be easy. but would also open the door to homebrew apps (XMBC 360 for example)
unfortunaly the level of protection that ms incorpated into the 360 means this could still be a long way of comeing.

but we all hope and prey.