When I first read this article, I was heartbroken to see that the dev for xposed wasn’t in any hurry to get xposed updated to work on ART instead of Dalvik. I was one of the many who didn’t want to upgrade to lollipop without xposed. However, with lollipop’s awesome battery saving ability, I crossed over saying goodbye to the many wonderful xposed apps I grew quite fond of.
As of this week, xposed has been released to armv7 devices only. Thankfully, the note 2 is one of these devices.
This is in alpha, it is known to cause bootloops. Proceed if you understand the risk.
Please ensure you understand how to use odin, custom recovery, are rooted, and have a nandroid backup.
xposed xda forum
Flashable zip - Installs the framework
APK - App to manage the xposed modules