S12X is no different from the other S12s when it comes to the BDM interface and how it works.
The only critical limitation of the cable is the crystal speed (16MHz max). This has no relation to the bus speed, as the on-chip PLL can generate frequencies far above the crystal frequncy. This does not affect fucntionality of the cable in any way.
Please read the manual if you want to know more details.
Daniel