Tim:
Ignoring all updates to SELinux (add exlude rules to yum.conf).
Tom Horsley:
I'd assume that would quickly break down as the things that depend on it decided they needed newer versions installed.
Try it, and see. I don't see too many changes to the SELinux policy files (*its* default rules, etc.), I don't recall it forcing other things to update at the same time. There's only four obvious SELinux packages on my system:
[tim@bigblack ~]$ rpm -qa *selinux* libselinux-2.0.13-1.fc7 selinux-policy-targeted-2.6.4-21.fc7 libselinux-python-2.0.13-1.fc7 selinux-policy-2.6.4-21.fc7