So far so good. I am using the Google Authenticator App as the primary code generator, and my TXT as the secondary.
The Google Authenticator App reminds me a lot of an RSA authentication schema.
Had to generate and update codes for my Desktop Google Talk and Android authentication on both my GNEX and Tab 10.1 so far. I thought for sure ChromeMarks was going to fail - but it's working fine.
UPDATE: Chrome Sync on the Desktop needs to have codes generated, otherwise auth fails. Easy fix and intended to work that way.