When you say "meet" standards... I am not sure it works like that. CSS sculptor is standards compliant which means it will work with HTML5. HTML5 doesn't change standards, so to speak, but rather adds more features and functionality (such as the video tag). But because there are new features in HTML5 doesn't mean that the code already generated by CSS Sculptor would become obsolete.
Now, I am sure that WebAssist will add HTML5's new functions where appropriate, but as CSS Sculptor is more of a layout tool, I don't know how much would actually change in that department.