Originally Posted by Joe Ford

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.