I've just glanced through the code and it seems to use api functions unavailable at the moment in v2. I'm not familiar with Emacs' kill ring, so I'm not sure whether the plugin could be rewritten to work around that.
Sublime 2 has introduced a few new concepts in the api, like the EventListener class and the Edit object (source: memory), which haven't been explained yet.
If you want to poke around and have a go, though, bring up the python console (ctrl + ~) and dir() away sublime (m), sublime_plugin (m), view (o), window (o) et al.
The major change breaking compatibility with v1.x plugins is the new naming conventions in accordance with PEP8. Other than that, you can still peruse the v1.x api docs at http://www.sublimetext.com/docs/api-reference
to get started.
I'm pretty sure there will be more info on the api pretty soon.