Thanks very much for this!
Yes, I'm late to the party, only being able to test this last week or the week before. In any case, it works beautifully on the one system I have that is capable of accepting 24, 25, 29 and 60Hz signals. It's an HTPC connected by HDMI to an Epson 8350 1080p projector via an Onkyo TX-NR5007 receiver and a 22" 1080p Acer touchscreen monitor via VGA. They're in clone mode. Both display devices can handle all those refresh rates.
I've tried sample videos of all the major fps formats and confirmed with my AVR that the refresh rate was indeed changing. It's so nice to have this done automatically.
The desktop is at 24 Hz, which is a bit slow for the monitor, but fine for the projector. Since most of the material I watch is 23-24 Hz this works well, with minimal delays due to a refresh rate change. Also, some of the thousands of video files I have haven't had their refresh rate field filled yet with an "update library from tags command". A 24 Hz default usually works well for these if they're movies or US TV shows, more of which seem to be made at 23.976 fps these days. The projector also seems to have some issue with MC Standard View at 60Hz, so this was a workaround.
Unfortunately, the setup is not yet ideal since I'm using Intel's Clarkdale graphics so I do get a repeated frame every 42 seconds in 23.976 fps material. I'll soon be upgrading to an nVidia solution and LAV CUVID goodness though!
BTW Theater View and MC in general looks great at 120" diagonal from 10 ft away! I'll post pics one day. Here's a sample:
http://imageshack.us/photo/my-images/405/jrmcvis.jpg/