Hi,
The flood gate is open now but I'm not sure about the Cherwell conditions beyond Shipton Weir Lock. You could try asking CRT, but I don't know if/how often they send someone down to look at the lever markers for that stretch anyway.
I'd still be inclined to give it a few more days, the Cherwell is still quite big in places
It doesn't flood very often on the actual towpath side but the offside moorings by the church do end up with water pouring over from a stream when the ground is saturated but it only happens once or twice a year. Nothing a nice pair of wellies wouldn't fix