Yes, she's been ousted. However, she can stand in the by-election. She won't be able to stand as the Labour candidate, of course, because she's been thrown out of the party. If she stands as an independent she faces two hills to climb:
1. Independent candidates traditionally struggle in Parliamentary elections.
2. 27% of the electorate supported the petition to have her expelled. It's doubtful that any of them will vote for her, leaving just 63% to cover the main parties, any other "also rans" and abstentions.