Some balancers will only balance packs where the voltage is 3.3v or above. I don't know if this balancer operates that way, but if it doesn't, then it's fine to use on the A123 cells.
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Hmmm, it doesn't really say. It just states the cutoff on discharge, cutoff on charge, and the fact it keeps the cells within 0.05v from each other. I really think it does, because when I plug in my depleted (~3v/cell) emoli pack, it starts to balance them right away.