I had a MM with external BEC on 4s in my truggy and it got HOT quick, even with a 40mm fan on it and another 90mm fan above it. I wouldn't run it over 4s. MM on 3s or 4s in a buggy is great, on a truggy, it can be tough on that little ESC. If you can keep it cool, then it will work fine on 4s. The problem is keeping it cool.
Maybe I should just do it, since this thread is generating some good debate on whether or not it will work. Problem is, I'm a cheapass and don't wanna spend $50 on a Zippy 5S pack.
I may end up just going with 4S/8XL. That worked well in my old E-Revo. Sure, the motor runs hot, but that's what my leftover HV heat sink is for. And I already have four 2S packs to play with.
I think an 8XL on 4s would run fine. Just don't gear for too high a speed to keep your MM from cooking. Get dedicated fans for both the motor and ESC. Keeping the motor cooler will help keep the ESC cooler also. I ran my MM with a 6XL on 4s...much higher rpm. Great power and speed, but both ESC and motor got hot quick. Running it on 3s and not gearing it too aggressively would've probably kept it a decently running setup (not too hot). Good luck and have fun.