  We present time-resolved spectroscopy acquired during two epochs (spaced
apart by ~15 days) of the eclipsing Low Mass X-ray Binary AC211/X2127+119 in
the globular cluster M15. The spectra show variations in the HeII 4686 emission
line not only modulated on the orbital period, but also on time-scales of a few
days. During the first epoch of observation, the emission line shows a strong
S-wave superimposed on the average double-peaked profile. The line exhibits no
evidence of rotational disturbance at the orbital phases when the eclipse is
observed in the optical continuum. During the second epoch, no double-peak or
S-wave component is present. The HeI absorption lines detected by other authors
are not present in our spectra. A Doppler image of the HeII 4686 for the first
epoch supports the presence of the accretion disc. No hotspot is detected,
although enhanced emission at V_X=30km/s, V_Y=160 km/s is observed. We discuss
the implications of this emission in the context of an X-ray heated donor star,
in which case a high mass ratio and neutron star primary are implied. Finally,
we speculate on the possibility of a misaligned secondary star in AC211.
