Updating the block region/pages settings for a NEW views block during an implementation of hook_update_N
This can be resolved by using db_merge instead of db_update, which effectively updates if it exists else creates the entry.

An alternative line of enquiry would be to look at using one of the new hooks available in the features module. In theory 'hook_post_features_rebuild()' would reactively move the block after the features been rebuilt, and therefore the blocks been created.

http://drupal.org/node/1782492