All DNG files (both 1.1 and 1.3) produced by CHDK can be converted by Adobe to new DNG files.
Converting 1.1 would be pointless, as far as bad pixel patching goes, since pre-1.3 the DNG spec requires that bad pixels be patched in the original data.
Converting 1.3 to 1.1 would only be useful if the tool applies the badpixel opcodes. I'm not sure if Adobes tools can do that. I do know that if you use their dng_validate tool to convert to tiff, the pixels are fixed.
Version 1.3. In Irfanview almost all hot pixels have been corrected.
We need to keep terminology straight here. CHDK does not do anything with
hot pixels (pixels that are stuck on, or accumulate spurious counts.)
So if you are actually trying to deal with hot pixels, you have to do it with something completely outside of CHDK. dcraw has options to handle arbitrary bad pixels, and I'm sure many other image processing programs do to. See the -P option. You should (in theory) be able to handle all your hot/bad/dead pixels this way, independent of CHDK.
(There's supposed to be a way to do this in CHDK, but apparently it got broken and no one told me... It should be fixed at some point)
CHDK badpixel.bin and the badpixel opcodes only deals with low value (dead or marked bad by the canon firmware) pixels. As I explained before, Canon cameras make pixels as bad based on criteria that aren't fully understood. It is likely that they depend on exposure time, sensor temperature and possibly ISO. If you want to use CHDK DNG 1.1, you should generate your bad pixel file with long exposure and probably take some shots before hand to make sure the sensor is warmed up. You may also want to use a higher ISO value (though very high ISOs may behave differently...). On some cameras, this will result in a badpixel file which is so large it causes your camera to run out of memory or fail to load the file. In that case, you need to use DNG 1.3 and deal with the bad pixels elsewhere.
Note that the bad pixels is usually only one (red green or blue) bayer element, these pixels can still show up as a saturated pixel. Converting your DNG to greyscale without debayering (dcraw -d, -D or -E) can help tell the difference.
Regarding DNG 1.3, someone on the forum created a patch to dcraw to handle DNG 1.3 badpixel opcodes, see
http://chdk.setepontos.com/index.php?topic=9443.msg98243#msg98243I'm not sure what the status is, but you might be able to find it or get a copy from them.
FWIW, you can also use my chdkptp tool
https://www.assembla.com/spaces/chdkptp/wiki to manipulate CHDK DNGs (it probably won't work on DNGs that have been created or processed by other programs.)
See this post
http://chdk.setepontos.com/index.php?topic=6231.msg104529#msg104529 and USAGE.TXT for some information about the DNG commands.
I intend to add the ability generate bad pixel and hot pixel lists at some point, but as usual there is no ETA.