Hello,
Since HSRP uses port 1985; the question became does CGMP block link local multicast addresses.
Here is a cut and paste from this link:
In general, addresses from 224.0.0.1 to 224.0.0.255 are reserved and used by various protocols (standard or proprietary, like HSRP). Cisco recommends that you not use these for GDA in a multicast network. CGMP and IGMP Snooping do not work with this reserved address range
http://www.cisco.com/warp/public/473/22.html