Should this module allow me to use remote urls with theme_image_style ?

I thought that it would, but I tried it and got an error generating style, but works fine using local images.

Am I trying to do something that this doesn't allow, or missing something in how to use it?

Thanks in advance!

My code:

    $config = array(
        "style_name" => "120x120",
        "path" => 'http://mod-store.com.au/images/x.jpg',
        "height" => NULL,
        "width" => NULL,
      );
      print theme('image_style', $config);

outputs:

<img class="adaptive-image" typeof="foaf:Image" src="http://ebay.mod-store.com.au/sites/default/files/styles/120x120/adaptive-image/http/mod-store.com.au/images/x.jpg" alt="" />