Can I move a change set from one work item to another in different projects across ccm servers?

One answer

The term "move" is probably not appropriate here, since the change set itself doesn't move ... you just add/remove the links between the change sets and work items. You can link a change set to work items on any server (as long as the change set server and work item server are friends, and you have the appropriate permissions). Note that you use a work item link if they are on the same server, and a change request link if they are on different servers.
Comments

Thanks Geoff for the quick response. A little more detail about my situation.

Yes, that all sounds accurate. Note that if you had used "distributed deliver" to create and populate the components in the new repository, you would have had even better traceability, because the change sets from the old repository would have been replicated into the new repository, and then you could have used a work item link to link the copy of the change set in the new repository to the copy of the work item in the new repository.