Sport Pilot Talk

would a BFR given by a CFI-I / MEI without a medical, (but with a current CFI and bi-ennial review) in a LSA count as a BFR for the PPL to operate standard catagory aircraft?

Absolutely! The only constraints for a flight review have to do with category and class. If the LSA is in the proper category and class (say, for example, ASEL), then a pilot completing a flight review in it is good to go for the next 24 calendar months in ASEL. There is nothing in the FARs that says the CFI needs to have a current medical.