I would check piston to valve clearnce with it. But is should be ok. I ran the TFS 1 with 1.77RR that would have put the exhaust side to the same size as the intake side of the 2. And i had my head shaved .030. I think the probablem will be on the exhaust side with the TFS 2 cam.
why would you want to run such a massive cam in a stock motor heck your better off running there stage one cam and put a nice set of rrs on it 1.7 or 1.6s and agood intake, that cam will end up being way to much for that motor buy you a set of tfs twistedwedge heads and i have heard with there heads you can run that cam on a stock short block but y would u?
Be prepared for the computer to get real cranky too (I know you didnt ask about that but I had the feeling you were asking this for a friend or something. ).
Well it is a cobra...but i still agree that the stage two is going to be a little big. Lazy low end performance...and the heads and intake on the car wont be able to flow well enough to take full advantage of the top end power. I also agree with hissin that a big cam in a 94 cobra ECU isnt going to be ideal. Check the SN or SVT forums, perhaps you will find someone with a stock cobra and cam setup! good luck