I am not familiar enough with the rechargable/BB/Lux V issue to comment on it.
However, you *can* use a Lux V light engine in an A2 head. With a BB500, the heat build-up should not be that big of an issue. However, you may have trouble getting the LED focused correctly. The Lux V needs to be a little bit further back from the reflector than the Lux III. With A1 and A3 heads, this is easy to accomplish with the use of a spacer washer. In the A2, however, this spacer washer won't have any effect since the reflector is so narrow at the bottom. The difference is significant, but I think that the Lux V in the A2 head is still more than usable even at the slightly non-optimized focus.