The regulator does not absorb extra energy. It does not current limit the alternator output stream directly. It will tell the alternator not to make so much energy based on the voltage level of the battery.
This means the battery technology you chose should have the same cell voltage characteristics as the lead acid type found when in stock form.
For example, the Vreg knows the battery is full when six cells in series reach a voltage of 14.5 V which is just over 2.4 V per cell. This keeps the battery from damaging overcharge. If you select a battery technology that has, say, 2 Volts as it's peak charge voltage, then the bike's regulator will let the alternator overcharge it routinely and shorten it's life. The battery may behave nicely early in life, but will wear out faster than it could have.
Conversely, If the battery technology you choose requires a peak charge level of, say, 2.6V per cell, then the battery will never get fully charged. This also can decrease it's service life as part of the chemicals inside don't get fully involved in the conversion process.
Besides peak voltage, the charge rate is also of concern. Ramming a lot of power into the battery quickly may also damage batteries that can't convert the chemicals inside fast enough. These develop a surface charge voltage high enough to make the charger back off before all the chemicals inside can become fully converted. In essence these batteries overheat during the fast charge, making the chemicals overactive in attacking the anode and cathode material, but because of physical distances from the energy entry point, the battery never achieve a full and thoroughly saturated charge.
There are a lot of different battery technologies out there, and they all have their idiosyncrasies. There are a lot of different voltage regulator designs, too. This post uses the stock SOHC4 regulator as a reference. It has no zener diode. And unless a regulator manufacturer publishes his internal design, or you take it apart, you can't guarantee there is a zener diode in any specific example. A Zener diode regulator is only one method of voltage regulation.
cheers,