Sorry, but no. Sssqueeze had no "bendable" arms as such. There was no metal wire in them. They were just a long piece of "round plastic" that had a very slight "bendable" property in itself, but you couldn't possibly have his arms remain in the same position by themselves (the only way to achieve that effect was with the help of the hands, when the hands would "clasp" on the arms).Has no one given thought to the fact that if they're doing this for Hiss, then this likely means that Squeeeze (sp?) will also likely retain his "action" feature, as this is how his arms were constructed back in the vintage figure?
If you own this figure, you can check. You'll see that I'm right : there's no metal wire in there, and Sssqueeze's arms were barely bendable.
Anyway, bendable stuff is fragile, and makes a sorry kind of an "articulation" (if you can even call that an articulation).