When shutting down, psplash should display the splash screen. Currently (at least on crownbay machines) this does not seem to work. The screen flashes a couple times before going completly black. To reproduce, build the core-image-sato image with the crownbay machine (EMGD activated). So far I've only tested with 1.3 (danny) with a crownbay based machine. Another thing worth mentionning is that switching between VTs does not work either. The screen is completly black.
Somehow, removing the SDVO configuration section from the xorg.conf file fixes the issue for me. The splash screen now appears correctly on my crownbay machine.
Since there is an easy workaround, I'm closing this bug.