I recently also bought a WG511v2, it's basically a PCMCIA version of the usb WG111v2. Sidenote: For some reason they mailed me two of them but only had to pay for one.
The software looks almost the same and also has WPA2 support. However I could not get this to work on either of my 2x98SE laptops. I can only get None/WEP/WPA-PSK to actually connect and get an IP address, but it can still see the WPA2 network.
If I try to actually connect, it flickers slowly with an unlocked/locked padlock icon so I never get an IP (and the "Now connected to the internet" message), OR it just simply bluescreens and I can't skip it.
The WG111v2 USB actually worked and fully connected with WPA2, but it may randomly bluescreen also.
I got a new router since and now the USB one has the exact same problem as the WG511v2 PCMCIA card where it never gets an IP (or just simply bluescreens).