Okay, if this only works when you test, but it doesn't work when you login, and goes to default, here's what you do: Go to either /usr/kde/3.4/share/apps/ksplash/Themes/ or ../opt/kde/share/apps/ksplash/Themes/ and move your default to your desktop. Rename it something such as KDE, and move it back. Then, add this splash-screen, and apply. There's no reason it won't work now.
Feedback requested. Thank you! :-D