This question has been asked in the past around here and the usual answer is no; even if your motherboard can overclock a 400MHz FSB CPU to beyond 533MHz FSB, a 533MHz FSB CPU will not work and might kill your motherboard. Also, if you go to the manufacturer's web site, you might be able to find a list of supported CPU's for your motherboard.
For example: My MSI 975X motherboard can overclock a 1066MHz FSB CPU to over 1333MHz FSB. However, according to the MSI web site, it does not support any of the new 1333MHz FSB CPU's.