Let Lip(X, B(H)) and lip α (X, B(H)) (0 < α < 1) be the big and little Banach * -algebras of B(H)-valued Lipschitz maps on X, respectively, where X is a compact metric space and B(H) is the C * -algebra of all bounded linear operators on a complex infinite-dimensional Hilbert space H. We prove that every linear bijective map that preserves zero products in both directions from Lip(X, B(H)) or lip α (X, B(H)) onto itself is biseparating. We give a Banach-Stone type description for the * -automorphisms on such Lipschitz * -algebras, and we show that the algebraic reflexivity of the * -automorphism groups of Lip(X, B(H)) and lip α (X, B(H)) holds for H separable.