If no other users have chimed in with their experience on this, you may want to ask IK Support directly in case they are able to report any experience with this.
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i followed your suggestion and this is the answer I received:
"The iRig HD 2 will work in the following formations.
Unfortunately, 16-bit is not an available option for recording purposes at this time. This will be an available option for playback however. Conversion: 24-bit A/D, 24-bit D/A Sampling Rate: 32.0 kHz, 44.1 kHz, 48 kHz, 88.2 kHz and 96 kHz"