Odd. I posted to this topic this morning, it hasn't shown up. Oh well...
Very basically, you could probably find a whip length that would make tha k_40 usable on 2 meters. Don't ask, I have no idea what that length of whip would be. As for reconfiguring the loading/matching coil, sure you can probably do that. And as long as you weather proof it adequately, I don't see why it wouldn't work for some 'reasonable' time. Considering the time and trouble you'd have to go to, it'd probably be cheaper just to buy a 2 meter antenna of some sort. Depends on how much you like 'playing' with antennas, doesn't it?
Have fun.
- 'Doc