Yes. Telemetry is alive. As you can see in the picture below.
HUD airspeed (User Item) : 1.56 (frozen)
HUD AS : 3.3 (live and correct)
Status airspeed :3.345351 (live and correct)
Also all of the "User Item"s added on the HUD are frozen.
When I remove an item, remaining "User Items" are still frozen.
However, they become live when I add another "User Item".