That is true. Even though it appears to be possible, I'm not sure the custom skin playlist viewer was ever expected to be included in an SBS instead of the WPS. As you noticed, it only shows something while playing or paused.
Showing current and upcoming tracks when playback is stopped - including after a reboot - would require larger changes - most importantly, automatically "resuming" a playlist (i.e. parsing its control file) when the player boots up, in order to restore the playlist state. And then making sure the state is maintained. While this should be possible, it has certain disadvantages as well, such as slowing down the boot process: Depending on your dircache size, this could be very noticeable due to the fact that the system currently waits for the dircache to have finished loading before resuming a playlist.