The short version is, maybe... ;-)
The 2.3 liter tranny bolt pattern is different from the small block pattern. I would imagine that Transdapt makes an adapter though, so it should be possible, just not very easy.
I'm not sure (correct me if I'm wrong) but a post 87 (or was it 86? I can't remember exactly when the World Class T-5 went into production) 5.0 T-5 will be stronger than any 2.3 T-5.
Cheers,
Ian