[…] it will not import the contents of a project HTML file which is what the Install-able release uses internally to save a project's data.
That is incorrect, actually. Twine 2 can, and will, import story project data files just fine.
The only difference between the Story Library Archive files (created via the Archive button in the sidebar) and the executable release's Story Project Data files (stored in your document's Twine/Stories directory) is that the former contains multiple story projects. In both cases, what is actually stored within the files is the exact same data chunk that is injected into Compiled Story files.
In summary, it doesn't matter what type of file it is, if it was generated by Twine 2, then it should be able to be imported by Twine 2.
If you do run into a situation where Twine 2 will not import a file created by Twine 2, regardless of its type, then it's likely a version compatibility issue—i.e. the version of Twine 2 you're using is incompatible with the format of the file you're attempting to import. The format of Twine 2's data chunk has changed slightly over the course of Twine 2's public releases and Twine 2's import code has not always been as robust as it should have been—IIRC, there have also been a few bugs in that area in past releases.