SO is it possible to mod the most updated version and if not is it going to be possible to mod v1.1, v2.0 or whatever the version number is gonna be once it finally does come out?
Yes, it's just a matter of IC releasing the reference files. That will probably happen in a similar timeframe to the final 1.1 release.
For those that want to continue using mods in the meanwhile, if you disable the show prerelease versions option in Impulse's preferences and reinstall, you can go back to 1.05.