I guess the big black box on the right in lilo's graphical interface should show all possible images for selection. For me, there is nothing there (only image I have is 'linux'). The graphics card in question is some pretty standard SVGA one.
Closer inspection and turning the contrast and brightness to the maximum _does_ show the 'linux' text, but using standard brightness values.. no luck.
Fixed in beta2 (although an artistic touch is still required ;)