Short answer, yes. It will work. Long answer, the way servos have historically been rated is by the nominal voltage of the battery they can be used with. So 4.8/6v means it can be used with a 4 or 5 cell NiMH battery (1.2v/cell). For a 7.4v servo that means you can operate the servo off a 2s lipo (3.7v/cell, 7.4v nominal, but 8.4v fully charged). Hope this helps.