Peter,
It should be, as long as you have room to mount it and put the tape on the flywheel. Note that you will need a 5VDC supply for the Chuff-Generator.
Did you see this thread? Improving the Lionel Legacy 10-Wheeler? I used the stock chuff switch in this case as it was working, but I made a one-line code change to the Super-Chuffer to allow it to trigger on the opposite side of the switch closure match the sound sync. Since I had the capability, I also added the Rule-17 LED Lighting.