I used this for a while and it's kind of neat but honestly the players get tired of it pretty fast. You could import this into Unreal easily but I'd think a little bit about whether you really want to or not. At the very least you ought to give the client the ability to opt out of the splash. That would probably mitigate the worst of the criticism for using it.

Logo splash makes much better sense in games like Arma where loading takes a bit of time. In my ArmaII DayZ mod servers I had a "where's Waldo" series that let the joining players try to find the Waldo Zombie in the pictures. It was a lot of work making the pictures but my players appreciated the effort. In UT though the maps load so fast that a few seconds of blocked screen or hijacked audio at the start of a map could be a problem.

Anyway PB, that's just my opinion, but yeah you could make this work in Unreal.