Just because they share a couple characteristics (.50 bullet, rebated rim) doesn't mean it's workable.
Rim diameter on the Beowulf is rather smaller than the AE... I doubt you'd get a Beowulf bolt to match up to the AE... the extractor may not grab, the firing pin may not reach. Case diameter is also larger on the AE than the Beowulf (the AE is somewhat tapered)... the round probably wouldn't chamber at all.
Even if you could chamber the thing I still wouldn't. It just doesn't seem like a good idea.
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