According to the link you provided, the KM2M has support for 266 FSB up to XP-2600+. Given that, you should have no problem running a mobile chip. I recommend using the latest BIOS, though, to ensure compatability.
As you stated in your earlier thread, the KM2M isn't going to let you OC far since it only supports a 266 (133x2) FSB. However, since the mobile chips are unlocked, if you can change the multiplier with the board, then you can OC by just uping the multiplier and keeping the FSB at 133.