The BeatBuddy and BeatBuddy 2 do not have any major differences when using MIDI, MIDI commands on the BeatBuddy all work on the BeatBuddy 2. So the basic answer is, yes, the MIDI Maestro is fully ready for the BeatBuddy 2.
Read the manual for more info on BeatBuddy 2 MIDI Commands and a complete list of them.