I have a circular application logo and I don't want it distorted on splash screen.
Titanium stretches the splash screen, so in some devices it's distorted.
What i would like to do is to have it centered, with a background color, or, via providing a larger image, have it cropped to viewport centered.
I don't think you have many options in terms of styling the splash screen. The only thing I can think of is that you create different splash screen images for the different screen sizes and pixel densities, and put them in their respective folders in Resources/Android.
For Android splash screens, create a so-called 9-patch image (look that name up yourself). This is an image in which you can define a center area that is always displayed in correct 1:1 proportion, and border areas at left, right, top and bottom that can be stretched if the image is smaller than the screen. If your logo is in the 1:1 middle and your background gradients are subtle, that solves your problem. This file format only works on Android and it's not a 100% user friendly process to get there. But you can do it if you try.
Here is a thread that explains how to handle different screen sizes.