I can't see a viable reason for it not to work.
haha 512GB, thats a lot! no wonder its so fast...
Could be RAM. Both the iPhone 4 and the newest iPod Touch have 512 GB of RAM. Some things, like generating frame transitions, probably require a fair bit of RAM. While we are not sure how much RAM the iPad 2 has yet, it probably has 512 GB.
Best guess.