Yes, the M-One / M-One XL's S/PDIF input will accept an AES/EBU signal. In this case, it will also send out AES/EBU format, not S/PDIF format, on the digital output. If your AES signal needs to be transmitted through long cables you might want to include an impedance converter in the loop. Click here
if you use short cables there should be no problems in using regular 110ohms cables directly in/out of the M-One / M-One XL.