Yes, with some caveats. The ARC function pins are the risks:
| Pin | ADV7510 | ADV7511 |
|---|---|---|
| 46 | GND | SPDIF_OUT |
| 51 | GND | HEAC- |
| 52 | NC | HEAC+ |
You could simply drop in the ADV7511, but remember that ARC would be unusable and you would have to make sure it was disabled (Register 0xDF bit 0 should be a 1) else you'd be shorting an output directly to ground.
The attached document describes all other minor changes from ADV7510 to ADV7511.