Ive asked this question many times with no result so i ask again,
Question - will the collectors edition of D3 which comes with D2 and D2 is what i would like to know, will it work with lion os?

Answer Y/N

thanks

The Collector’s Edition will have a 4GB USB soulstone with snazzy Diablo skull base. On it are full versions of Diablo II and Diablo II: Lord of Destruction. The version included is the one that’s currently out so it won’t be compatible with OS X Lion. But, there is a workaround.

Mac OS X 10.7 Support
http://forums.battle.net/thread.html?topicId=27813861505&sid=3000

A helpful user created guide titled: Guide to playing Diablo II on Mac OS 10.7 Lion
http://forums.battle.net/thread.html?topicId=27822633591&sid=3000

So, yes to your first question, and yes to your second question via the workaround.

full versions including keys?

You’ll receive full licenses for the games.