Absolutely, they will work but you have some that swear by the new switches and some that swear at them.
Since I have never had a truck with one or worked on one that had one of the new switches all my info is second hand.
The drivers and mechanics at he local armory and Support Maintenance shop generally feel that the three lever switch is superior and will use a salvaged three lever before using the newer switch.
The issues seem to revolve around:
The better ergonomics of the three lever switch in terms of positive manipulation without having to look down. It is much more positive when wearing gloves, especially heavy gloves. You can tell with certainty where the levers are going to go if you turn them. The switch pads on the new switch are harder to use with gloves on and tend to require more looking down.
Service life. The three lever switch last years and years and the electronic switch seems to last 2 years or so. Who knows, maybe they don't have self cleaning contacts.
Current draw. Although I've never had a chance (or the inclination) to separate the power wires going to the new switch and put a current clamp around them to verify this, I've had several mechanics tell me that the electronic switch has a small current draw all the time. That may not be an issue for the active duty folks but could be a big issue for reserve component folks and occasional users like us. They seem to think they have more dead battery problems with the new switch.
Lance