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OK I think I see two forms of "division" possible, one is simply using the same algorithm as the "multiply" but dividing the magnitude and subtracting the values from the angles (see Ron's (fractalrebel's) multiply here http://www.fractalforums.com/mandelbulb-renderings/lambdabulb/msg9103/#msg9103). But there seems to be an altenative for the formula given that Paul (bugman) provides definitions for 1/z here http://www.fractalforums.com/theory/non-trigonometric-expansions-for-cosine-formula/msg9019/#msg9019 and here  http://www.fractalforums.com/3d-fractal-generation/true-3d-mandlebrot-type-fractal/msg8680/#msg8680.
Is using the first method z1/z2 equivalent to using the second z1*(1/z2) or not ?

Yes, both methods of division are exactly the same.

i implemented my spherical division function (needed to implement a formula) as the 'reverse' of the spherical multiply function (subtracting the angles) and although I'm not sure it's mathematically correct, but visually the results were what I expected/hoped to see.