Well, theoretically it's possible, much in the same way that you can put Windows XP in older pentiums. If it's advisable would be of more concern. Like comar said, there are alot of implications. you can research on firmware updates and "system requirements" and drivers and a bunch of other factors. then maybe you can devise a way to make it work.
Also, the typhoon ROM is not just a matter of updating. you'd have to start out by wiping your phone's "hard disk" and installing a typhoon ROM. If your willing to go through all of that, then go for it. I hope all of your troubles will be rewarded in the end. Good luck.