if you read the manual, page 10:
"A gamesas ACCOUNT (POWERED BY GAMESPY), ACCEPTANCE
OF THE gamesas TERMS OF USE http://WWW.gamesas.COM/TERMS AND gamesas
PRIVACY POLICY http://WWW.gamesas.COM/PRIVACY ARE REQUIRED TO ACCESS ONLINE
MULTIPLAYER AND OTHER ONLINE FEATURES AND/OR SERVICES. REGISTRATION
FOR LIMITED EDITION CONTENT IS LIMITED TO ONE gamesas ACCOUNT PER SERIAL
CODE AND IS NON-TRANSFERABLE ONCE USED."
so the answer is supposed to be "NO".
Now: many people avec created new accounts in order to be able to play online. But this account is different for the one they redeemed the LE code.
I presume these people are so numerous that EA / Crytek will be forced to manage a solution for all (who have bought the Limited Edition) so that they are finally able to use something they've bought.