I say no because technically it is a wrong warp because you aren't warping into the CS as you ought to.
I disagree completely, since death hole wrong warping skips the medallion cutscenes anyway, which therefore confuses the wrong warping glitch with just glitching a blue warp to skip a cutscene.
No matter what the outcome is, skipping the medallion cutscenes will be slower anyway, because shadow and spirit are really fast cutscenes.