I did some additional checking...supposedly it will work, but I could not download the manual for the new unit (M-Audio server problem).
The only information I could find was this...
http://m-audio.com/kb/article/1651
It shows how to set the Keystation for HUI mode...do that, then go to Peripherals Setup and follow those instructions. I don't have any of the older Pro Tools documentation so I can't help you farther.
Sorry I can't be more help...good luck!