I don't see why not. Either utility should be able to handle it. I have licenses for both utilities but I find it easier to set up custom configs in DisplayConfigX.
My projector is only 1280x720, so I can't test it for you, but I think that imlucid has one of the JVC LCoS projectors with a res of 1400x1050. If so, I assume he used one of these two utilities to set it up. Maybe he'll chime in.