Hi,
There is plenty tutorials how to run Bluetooth dongle on firmwares with 2.4 kernel (1.9.2.7-d).
Of course they have proper kernel modules.

1.9.2.7-d branch is now deprecated, and the whole effort is put to 2.6 firmwares (1.9.2.7-rtn), but 1.9.2.7-rtn is no longer complied with bluetooth modules.

I checked both http://code.google.com/p/wl500g and http://wpte.kicks-ass.net firmwares.

Anyone know why?