There's a list of compatible mods on the Tale of Two Wastelands site.
No idea if Project Nevada is compatible or not.
Tale of Two Wastelands Mod Releases | Tale of Two Wastelands
Looks like it might be there's a patch to fix a problem or two with it.
They're basically the same engine New Vegas just has a year or two of patches applied for the most part. Same reason you can port Morrowind's world into both Oblivion and Skyrim's engines if you desire.
The advantage is you get all the New Vegas improvements, including survival mode or hardcore mode whatever its called, plus you can take New Vegas weapons back to the Capital Wasteland. Its pretty sick all the way around.