Hi there!
I downloaded it and that's a common Reshade install, you just have to drag the content of the rar file into your bf2 main installation location (where bf2.exe is) and it may work also if you put it in bf2/mods/fh2 but only if Forgottenhope2.exe is there, i'm not sure right now.
Reshade, ENB, Mastereffect are MP ready, no problem with that!
I got trouble with Reshade lately, I posted a thread about it on the forum but after some times, my game didn't want to start at all, only black screen with no option but to reboot...
I'll give it a try though, i've got ENB working but I don't like the settings, not as effective as Reshade and Mastereffect.
Good luck and enjoy if it works!