We have done this, though our app was mostly a BrowserComponent viewing a web page with some special hooks in the shouldNavigate call in order to some special actions (like putting events in the device calendar etc.,).
It worked fine from the Codename One build, it just took weeks for it to go live - I think Microsoft's review process is incredibly slow. But there wasn't anything special required in the building or submitting, just took the .xap file and submitted it to Microsoft.