Export to QuickTime?

Does the "Export As QuickTime Movie" only work if the you are adding a soundtrack to an QuickTime Movie?

I tried with a regular podcast with some photos added (e.g., an enhanced AAC podcast), but the "Export to QuickTime Movie" option was greyed out. It would be nice to use the same GarageBand project, but create a QuickTime movie with larger images than the default podcast.