Short answer: no.
Longer version: Depends. BI has a couple of unique features (Horde, swimming, Shield wall, Schiltron) that are not included in the RTW 1.5 engine. So, a mod using any of these won´t work with 1.5. With some work (see about adding units) you can, however, use the models and units from a BI mod in the 1.5 game, just without the features mentioned above.
*Looks at Unit Formations*
Haha! And you thought you could stop me!
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