Followed the instruction on fbsplash on debian/sid and built splashutils and miscsplashutils on Thiz Linux 9.0 alpha, and converted Thiz Linux bootsplash theme into fbsplash theme, seems it works partly, with some tweaks in the initrd.img.
I done this my adding a mknod instruction to make back the device node /dev/fbsplash in /usr/bin/splash_geninitramfs and do mkinitrd followed by concating the initrd image generated by splash_geninitramfs.
In grub menu.lst file, use "video=vesafb:ypan,1024x768-32 splash=silent,fadein,theme:tld quiet CONSOLE=/dev/tty1" to enable the splash.
Remember to install udev to make the splash appear after bootup.
Also, /etc/splash/currect is a symlink to the currect theme directory!