According to the wowhead comment by Bagaren on beacon:
The Beacon of Light heal is also
affected by +healing buffs, such as
Tree of Life Tree of Life (6%
increased healing). This means, the
original heal benefits 6%, while the
Beacon-heal benefits another 6%. For
example: Paladin puts Beacon on tank.
Paladin heals a Rogue for 1060 (1000
original, 60 extra from ToL). Beacon
heals the tank for 1123.6 (1060
original, 63.6 extra from ToL).
So I would imagine the same holds true for 40% increased healing benifit being passed along to the Beacon target. Also, if the pet was the target of the beacon, it would be healed for 40% more than the original heal.
Edit: Newer comments from wowhead (3.3.2) on blood of rhino (thanks crshcmidt): This comment suggests that the use of beacon/blood of rhino is the best idea ever... While
this comment suggests this idea is false, that BoL doesn't count % modifiers anymore. I guess someone will just have to test and verify....
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