I'm "redecorating" my VL too, I changed the lilo theme succesfully.
I want to customize the login screen too, but I am running VL Light Beta2 and I don't know if it's KDM or something else, in any case it doesn't have a place for a picture, etc. just a blue VL background and the login box. I'm a bit confused atm with window managers and file managers and so I have no idea about how to change my login screen, or what runs it at all.
I also don't see any bootsplash images when I boot.
Any help on customizing bootsplash and login in VL light B2 is appreciated.