Although it seems likely that Orochimaru could be drawn into the loops, that outcome is hardly certain. For all we know, this may cause Orochimaru to
spontaneously explode at the beginning of each loop.
Of course, it would be interesting for the loopers to discover that, even with Orochimaru's death allowing them to dismantle the invasion well before it
starts, and Naruto getting to perform so spectacularly in the chuunin exams that the Hokage promotes him over the objections of his detractors, the loops still
don't end.
After all, according to the Kyuubi, they're in the loop because Naruto has a fate, and being killed by the barrier jutsu derailed that fate. Naruto is
therefore stuck in the loop until he gets his fate back on track, which does not necessarily have anything to do with passing an exam (since he didn't pass
the exam in cannon yet still continued on towards his fate anyway.
Now, anyone who knows about the toad prophecy (which amounts to Jiraiya and a bunch of toads) knows that Jiraiya's student is fated to either save or
destroy the shinobi world. So Naruto is trapped in the loops until it becomes inevitable that he accomplishes this goal (which means that he likely has to
learn all about Akatsuki, unravel their plans, foil the aforementioned plans, and begin working towards world peace before he can leave the loops).
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"Anyone can be a winner if their definition of victory is flexible enough." - The DM of the Rings XXXV
spontaneously explode at the beginning of each loop.
Of course, it would be interesting for the loopers to discover that, even with Orochimaru's death allowing them to dismantle the invasion well before it
starts, and Naruto getting to perform so spectacularly in the chuunin exams that the Hokage promotes him over the objections of his detractors, the loops still
don't end.
After all, according to the Kyuubi, they're in the loop because Naruto has a fate, and being killed by the barrier jutsu derailed that fate. Naruto is
therefore stuck in the loop until he gets his fate back on track, which does not necessarily have anything to do with passing an exam (since he didn't pass
the exam in cannon yet still continued on towards his fate anyway.
Now, anyone who knows about the toad prophecy (which amounts to Jiraiya and a bunch of toads) knows that Jiraiya's student is fated to either save or
destroy the shinobi world. So Naruto is trapped in the loops until it becomes inevitable that he accomplishes this goal (which means that he likely has to
learn all about Akatsuki, unravel their plans, foil the aforementioned plans, and begin working towards world peace before he can leave the loops).
----------------------------------------------------
"Anyone can be a winner if their definition of victory is flexible enough." - The DM of the Rings XXXV