Pyth, 3234 bytes
.A}Lrw1c2c." WWcÄHþânÌÏB_YWô-WûÄæ§Òé } Try it online: DemonstrationDemonstration
Explanation:
."... packed string, gets decoded to: "2 TO TOO TWO T0 B BE BEE B3" c split by spaces c2 split into 2 lists: [['2', 'TO', 'TOO', 'TWO']'TWO', 'T0'], ['B', 'BE', 'BEE', 'B3']] L for each list: w read a line r 1 convert it to uppercase } and test if it is part of this list list .A test if both return true