As far as I can tell this does work.
I loaded the game with a several months old previously detected public console injected, and have been in game plenty long enough for it to have been detected. Also, hackshield did not load on startup. If you try this, I would recommend making a backup copy of your original HSUpdate.exe before you overwrite it with the one in this download, just in case you have problems you can easily revert back. The file you need to backup and replace is in Vindictus/en-US/HShield.