alt Hacker NewsThe assumptions the proof makes are pretty clearly listed: https://sel4.systems/Verification/assumptions.html
The one covering side channels is pretty honest:
Information side-channels: this assumption applies to the confidentiality proof only and is not present for functional correctness or integrity. The assumption is that the binary-level model of the hardware captures all relevant information channels. We know this not to be the case. This is not a problem for the validity of the confidentiality proof, but means that its conclusion (that secrets do not leak) holds only for the channels visible in the model. This is a standard situation in information flow proofs: they can never be absolute. As mentioned above, in practice the proof covers all in-kernel storage channels but does not cover timing channels.
So the proof won't be invalidated at it does not cover that particular threat.
Now the question is how useful the is a proof not covering side channels? I'd say pretty useful and it doesn't mean they don't have counter measures for to counter their exploitation, nor that they are not effective, just that a proof of efficiency is out of reach for now.
To add to that, the only way I see proof of absence of timing channels is by proving both the software and the hardware design side by side, and then the proof would hold only for a specific core. Something that would look both at the code manipulating secrets and at the Verilog for the specific core/memory chips. I've not been working in that space in a long while but AFAIK such a thing is nowhere near ready. I suspect it will be a lot easier if the hardware design is optimised for provability, which won't be good at all for performance. But there are plenty of contexts where security matters a lot more than performance (SMC, BMC, RoT and co at the very least).
And then you'd need assurance that the Verilog is faithfully transcribed in the silicon, which is a can of worms in itself.