Hello, I had to come back, I still have problems to make working LOD2 files. *hangs head*
When the ported hairstyle has only one bone I have no problems to make the LOD2 files. I just make a bone weight copy with the vanilla hairstyle'S LOD2 version and reduce the polygon. (Sim hair has often a very high polygon count.)
Here is an example of what I'm working on. It's for my new mod.
I created a "replacer hairstyle" with 3 chunks which I can use for all my hairstyles with an accessory.
HairM1: scalp
HairM2: the ported hairstyle
HairM3: chunk for an accessory
Everything works fine. Hair and flower wreath show up in the toolset and in game. No problem with the LOD0 and the bone weight is acceptable. 
I could stop here most players aren't bothered about some flying hairstyles e.g. in campand and I can release the mod only with the LOD0 files but I don't want to do that. It's a kind of personal challenge and I want to make my ports as best as I can therefore I need the LOD2's.
... but I can't get them to work. I'm testing the LOD2 versions on Morrigan at the camp and after a certain distances the hairs isn't attached anymore to her head.
I have tested to use the LOD0 files and just renamed them with the _2.mmh suffix or down-res the textures,.. but after I compared my files with older hair mods ( Ren, Lotc etc.) I saw that Ren was using still the same bones for the LODand LOD2 version. I always thought that the LOD2 version is using less bones?
I have tried it like Ren did and used for the LOD2 version just the reduced polygon hairstyle with exactly the same bones like the LOD0 version.. but no success.
but if I would reduce them to only the head bone the bone weight of the LOD2 version wouldn't be correct anymore.
I saw that the added chunks in all older hair mods have one option enabled which my " replacer hair" hasn't and I don't know how to do so because I can't change there something in Blender and that let me think I have to change something in the mmh. or/ and msh. files.
It's this option in Newbypowers script: the Pos=f32. The description of this option says:
(chunk use Float32 instead of Float16 for Vertex Position (Typically heads)

I have no clue what that's mean. 
I have found in the wiki toolset an article about the mmh and msh file structure but after reading it several times my head started to explode. 
I would be great if somebody has a tip for me!.. and of course I can post a downloadlink for the files.
Thanks a lot!