Anecdotal evidence shows that similar conditions also apply to an I-551 on an expired passport:
It is common practice to have a valid visa or other stamp in an
expired passport and to have a valid passport.
A cancelled passport doesn't matter as long as the stamp is valid and
In some cases, although from other source this appears to be very much an exception, sometimes the I-551 will be stamped on an already expired passport:
NOTE: If you present an expired passport the USCIS will stamp it;
however, it will not be acceptable for employment verification
You can get your green card with the expired passport. As my colleague
just stated, you should bring the passport, your visa, and your I-94
card with you to your interview with the immigration officer. If you
are approved at the interview, the officer can give you a stamp in
your passport (called an I-551 stamp) to show that you have a green
card while you wait for the actual card to come in the mail. In my
experience, officers will put these stamps in expired passports so
that you can show proof of status while you wait.
Hopefully someone can come along with a more definitive answer, but in the meantime you can at least have the results from a little google searching...