Yes it can work. I am using CEP 1.2 with the MOTU 2408mkII. Took me 2 months before I got my first sound, then a couple more week to start working on a project.
The problem was in the cuemix of the MOTU, getting those setting to work with CEP settings.
Keep at it. It works great for me, although I will never buy any MOTU stuff again as their support is nonexistant.
Pete