Had a chance to test the Atmos Test Files.
Files were accessed from a USB stick, plugged into the front port of an Oppo 203. Oppo connected via hdmi cable to MX122, with output being Bitstream. Speaker system is 7.1.2, consisting of 6 full size towers, center and sub, and two bookshelf speakers as height speakers.
Oppo recognized the .mkv files but not the .mp4 files.
All Atmos Channel Test files correctly displayed "Dolby Atmos" on the MX122.
For test files using 5.x.x, the additional 2 speakers were ignored.
For test files using 9.x.x, the additional 2 speakers were played through the FL and FR speakers.
For test files using x.x.4 and x.x.6, the test tones were all rolled into the one pair of height speakers.
For the TrueHD Channel files, the display was "Dolby HD + DDS". Again, only .mkv files recognized.