If you go here you will find a list of LL-01 approved oils from the 2007 BMW Tis
http://mmm-five.net/Other/LL01.pdf
Or attached below.
It lists nearly 100 oils that are LL-01 compliant.
The BMW oil supplement is ambiguous, but for all LL-01 oils to be approved for the S65 M3 the following would have to be true:
1/ BMW High Performance SAE 5W-30 Synthetic Oil is the only recommended oil for all BMWs except for M engines where any LL-01 oil will do.
2/ BMW spent a small fortune R&Ding a massive range of LL-01 oils to check compatibility with M engines even though engine production was finished.
3/ BMW having had a favorably financial deal with Castrol (to provide oil for OEM factory first fills, exclusive recommendation in literature and use of "Exclusive approval for M engines" on their retail packaging) gave that financial benefit away and now every manufacturer of LL-01 oil can legitimately print "approved for use in BMW M engines" on their retail packaging.
On the balance of probabilities I would say not.