I misspoke because I originally grabbed the wrong file! The VST3 effects cannot be loaded into X2, but the tracks are indeed all there, so you may be able to collaborate, but I would definitely create a project with X2 in one name and X3 in the other.
Stem files are audio mix downs of tracks. In the export audio dialog, after selecting tracks you can choose "Tracks" instead of entire mix, and the files save with "[name you choose] - [track name] - [track #].wav"
But now that I grabbed the correct project, you may be able to share the project folder, but not sure of any issues (other than X2 cannot see X3-specific features).