In the players I've tried, I'm pretty sure that the bass management was usable for DVD-V as well as the high res audio formats. I'm certain that it works on the Denon 2900.
However, this bass management is not "mandatory" for DVD-V. If you want your receiver (or processor) to handle bass management for DVD-V, just use one of the digital outputs on the DVD player; they pass the audio signal completely unaltered.
My issue is that certian movies (Star Wars Ep. II fo instance) really rocks my sub. Not that I mind too much (untill I have to tighten all the drywall scerws again) but my wife will drive screws into my head if it can't be turned down during certian movies.
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