Hey Andrew,
My question is: is wyUpdate vulnerable to this sort of exploit?
No, wyUpdate is not vulnerable to this sort of exploit. Update signing is cryptographically secure (it uses 2048-bit asymmetric cryptography). This means that if you use update signing (which is on by default) and you don't share your wyBuild project (it contains the signing key), then you are completely safe.
The reason such high profile products are so easily exploited is that these companies aren't in the business of updating. They don't live and breath updates and patches. We do.