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No.

iLife uptodate is only available to those purchasing a Mac or iLife on or after the 10th January.

To be honest everyone knew iLife 06 would be released at MWSF so I'm surprised to read that anyone got 05 this late on.
 
Did you open the package? I wonder if you take it back to your local Apple Store or CompUSA if they would be understanding and exchange it...tell them your mom bought it and she doesn't know much about computers.

Or is that idea unethical?

The other think you can do is try to sell it on eBay. You may be able to get $25-$40 bucks for it.
 
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