To my knowledge, Oggs and MP3s only have, at most, two or three channels. I don't see why the player would be able to "create" more channels that the 4.1 or 5.1 would play through. Of course, if the speakers were able to be set in a 2-2-1 configuration, it might work (two speakers set to "left" channel, two speakers set to "right" channel, one speaker set to both channels) regardless of the player.
Of course, that's just theory, and precludes any knowledge of how SurroundSound actually works.