Does Boot Camp support Windows 8.1 Update 1?

Yes, it should. Boot camp worked fine with 8.1 we'll before they released the latest drivers, too

I'm going to take a leap of faith tonight, and try it probably tonight or tomorrow... will post back if I have issues... I'm certainly hoping not...

Confirmed... no problems.. install took a long time... but all is well.

MacBook Pro 2.2 Ghz i7 Early 2011 - Win 8.1 Update 1 with Boot Camp 5.1 installed