Comments: RETIRED - Using the Logic Level Converter

Can the bidirectional level shifter be used to shift a 3.3v digital out logic to 5v digital in? (Only a unidirectional level shifting is required in this case). The use case is say from Electric Imp digital out to Arduino digital in. I've searched and found a lot of schemes presented for this case (using a MOSFET (with logic inversion), or using something like MC74VHC1GT125), but no one talks about using a bidirectional level shifter for this case (of shifting digital logic from 3.3 to 5).

Appreciate any clarifications on this matter!

Thanks, Sridhar