OK, I've tried it and it function!
As you write, not 120px images are showed and there is blue-tile background, but for now it is ok.
If you can, you can add support for 2 images live tile and large tile (I know that it's difficult, but you're on right way
Link to my website, translated with google translator
My exlusive games, application, hacks, tweaks and more
Tools (now useless) for Windows 8
ModernApp Link 2.3
- ModernBack changer 2.8
- ShowTabTip 1.0
You can find me on Windows Phone Store and Windows Store too