|Without actual hands-on experience with the equipment in question (and I have none) it would be very hard to help you with this.|
I can tell you this, QoS and "rate limiting" are not the same thing and I don't believe you can accomplish rate limiting via QoS. QoS is a method of prioritizing traffic. For instance, we give highest priority to Videoconferencing traffic. Second highest goes to VoIP traffic. The lowest priority is assigned to http traffic.
As to whether or not the equipment in question can rate limit, the documentation will tell you. Barring that, you could look for a forum dedicated to HP switches or even contact their support people and ask them about it.
If you're real lucky, one of the other guys that hangs out in here and helps will have experience with that equipment and be able to help you better than I can.
It matters not how straight the gate,
How charged with punishments the scroll,
I am the master of my fate;
I am the captain of my soul.