It's hard to say if a substitute will work or not, but since the content of the yarns is similar and the gauge is so close, I imagine that the Classic Elite would work. If you're able to get one ball of it to try it out, you could swatch and see if you could get the gauge specified in the pattern and if the resulting fabric looks good. Make sure to wash your swatch too to see if it changes at all.
Hope that's somewhat helpful--good luck!
"I will remember that no one has ever been killed or maimed by being adventurous with knitting, no matter how pointy the needles." The Yarn Harlot