If more than one type of GUP is used, then the order in the client will look for the GUP is as follows.
1) Multiple
2) Explicit
3) Single
Reference: http://www.symantec.com/docs/HOWTO81148
Hence you can make use of this order to configure a failover-like setup. But you will need to have separate liveupdate policy for each group and will be using all types of GUP configuration in every group.
For every group, the order of GUP will have to be defined as follows:
Multiple GUP: The Primary GUP of that site should be defined in the multiple GUP. This will make the client with same subnet as the GUP to fetch the updates from primary GUP.
Explicit GUP: The Primary GUP has to be mapped to every other subnet (of the clients that are in the group) that is not same as the GUP subnet. This will force the rest of the client to fetch updates from the primary GUP.
(Note: At this point all the client in the group will be fetching updated only from primary GUP as long as it is online)
Single GUP: The Secondary (failover) GUP must be defined as single GUP. This will server as GUP to all clients in the group without any subnet limitations. However, the clients will not contact this GUP as long as the primary is available. In case, if the primary GUP is offline, then all the client in the group will contact this backup GUP and will fetch the updates.