No reason why it will not work. You will not be able to display injector duty with the Protege OBDII.
In my opinion, the OBD protocol is too slow to be all that useful on a real time display. You will have at best a second or so delay.
I would spend the money on a good android tablet, a Kiwi OBDII adapter and Torque. The only advantage to the Ark is that you can input additional external sensors.