I can not find anything officially from Apple on this but I suspect that like the Apple AirPort Extreme Base Station with Gigabit Ethernet (MB053LL/A) it does not support Jumbo Frames.
Which *****, along with not being able to partition it, No QoS, and other limited router features as well as limited NAS functions.
For the Money the Drobo (
http://www.drobo.com/ ) supports Jumbo Frames, works with TM and you can setup a partition size for TM, plus it can grow as your needs change or you run out of space, and it has full NAS features like ftp,ssh, itunes server, etc..
I own a 500gb TC but will be moving to the Drobo, it just fits my needs better.