yep

But keep in mind that the 128 MB/DIMM spec comes from the days of the x4 chips where you need 16 chips to fill one bank and there are not enough address lines to generate the additional row and column addresses. With the new chips being x8 (8 bit wide) you should be able to run double sided DIMMs with 256 MB. That would be a 16Mx8 chip configuration, 2 physical banks which is supported by the BX chipset (I have run those myself).

There are a few other caveats that relate more to the board power than to the chipset. Higher density DIMMs (256 MB) have way higher capacitance than 128 MB (in fact it is twice as much) and some boards don't have the juice to drive them. With a single DIMM you can always get away but if you add more you could run into problems.

Best thing is to try and see for yourself, that is, buy your memory locally at a store where you can get a full refund or take your setup there and try in the store.