Wow, maybe its just me but Bazerk's post did not clarify anything. Don't let it confuse you. The message is what I said initially, plus he is adding reference to a thing I did not point out about hi/lo, which is that you can make two seperate hands. On hand, using exactly 2 cards from your hand, and 3 from the board to make a hi, and then exactly 2 cards from your hand and 3 from the board to make the lo. The two cards selected may be the same two, a completely different two, or with a card of overlap, it doesn't matter.
PS: perhaps Bazerk was clear to others, but I was not getting that "2/4" meant "2 of 4" read this way sense is made. "2/4" to me is more analogous to "2-4"