During the migration of the VMkernel interface, the communication over these resources will remain unaffected. However, if for any reason you end up migrating the management VMkernel interface to a dvPortGroup without the necessary configuration to support the traffic for the interfaces, then you will lose connectivity to the ESXi host. To recover from this, you will need to get to the console of the ESXi host via the host's IPMI console, such as the DRAC, ILO, or KVM and use the DCUI to restore the standard vSwitch or use the CLI to modify the configuration of the dvPortGroup.
More information on migrating a VMkernel interface used for the management network between standard vSwitches (VMware Knowledge Base article 2037654) is available at: http://kb.vmware.com/kb/2037654.