There have been theories regarding this discussion of whether Madara can use the wooden statue or not. However, i came to conclusion that he can defiantly perform it.
First of all, the statue is not a summoning jutsu due to these reasons:
-Hashirama had only clapped his hands
-He gathered Sage mode to perform it and we do not see blood
-He never said in his head [Kuchiyose no Jutsu] which translates to Summoning jutsu
With all that being said, it is safe to say the statue requires Sage mode and Hashirama's cells along with the chakra levels to perform the technique. Therefore its not summoning nor it needs blood contract.
Moving on...in chapter 575, Kabuto states that he wanted to demonstrate to the whole world of Hashirama's power through edo Madara:
It was through his trump card which was the union of EMS Madara + Hashirama = Edo Madara:
Furthermore, Madara had proved to be capable of performing most of Hashirama's base techniques at the same level of its creator:
He proved that he can use most of Hashirama's strongest base techniques due to having memorising them with his Sharingan and all he needed was piece of Hashirama's DNA to perform them. As for Shinsuusenju, he seen and memorised it. He has the DNA, the chakra levels and Sage mode:
Conclusion = Madara can perform Shinsuusenju.
Thank You...Madara Rules