The feature set is not tied to the band of the radio. It's only tied to the ESN, whatever radio it may be in.
Transfer the ESN and feature string and the features go to the new radio. But there are some limitations on how you do the swap. The feature strings have to be of the same length between the two radios or the swap won't work. (For example, a Jaguar 700P and a 7100IP have different feature string lengths
because the 700P only has 32 possible options, while a 7100IP has 40 possible options, so the 7100's
feature string is a few bytes longer.)
This does allow you to swap the feature set from, say, an LPE into an Orion or Jaguar 700P, so long as they're all radios that are only capable of up to feature number 32 and no more.
Elroy