Ok, I see what you mean, basically moving a control off a gui so you only see part of it (but the whole imagel is still there just not visible). I don't think this works with Splashimage as it's treated like a control in itself, even though it's a window.
I manage to get it to show a section of an image but Splashimage seems to trim off a certain amount of an outlying image, so your -200 is probably beyond that point. I found Gui, Margin... had a similar limitation but Gui, Add, Pic, y-300 didn't.
Presumably this is a limitation of the control so I would just use a Gui with something like
Code:
Gui, Add, Pic, y-200 h400, %imagefile%
and use options and styles like +AlwaysOntop, -SysMenu and so on to mimic a splashwindow.