It was reported that the current ZTP exploit works with PAL Versions of the game.
After a few try outs it was reported that it with the release version of the PAL Zelda: TP. Exploit also worked with Zelda: TP PAl Euro.
Some graphical issues may appear though, which is not that big of a deal.
Other sources say that it works with the PAL and NTSC Version but not with the Japanese. To get a PAL version look for a "P" on the end of the cd serial, if there is no "P" it means that its an NTSC version.