I was able to install FakeSMC into S\L\E using kext wizard. This seems to be working fine. I then repaired permissions and rebuilt cache. I also renamed the old SMBIOS.plist in the Extra folder and moved your SMBIOS to the same directory. I then opened it with Chameleon Wizard, went to the SMBios tab, selected the iMac10,1 and hit Save. It rebooted just fine.
I am still unclear as to what are the proper steps to update to 10.10.5 though. Do I add any NullCPUPowermanagement.kext I can find on Google to \S\L\E with kext wizard, repair permissions and rebuild cache, install 10.10.5 and reboot? I am not sure at which point I would then have to remove the NullCPUPowermanagement.kext, since my system seems to be working fine without it (I don't have one at the moment).