I actually have one that I accidentally bought from ebay a while ago. All I can say for sure is that the two knobs certainly function the same way (lever actuated vertical button atop the shift lever shaft).
Without having tried it, I can only see three reasons it wouldn't work.
1) The 1st gen shaft is too large in dia.
2) The different lower clip is not adaptable.
3) The button isn't depressed far enough by the 2nd gen knob. (I experienced this with the Momo knob on my second fx. The button has to be pressed in FULLY in order to unlock the shift lever. If the 2nd gen linkage is a different length - no go.)