It does work. I had all of xLights running on the Pi early last year. You could even almost sequence on it. But with only 1GB memory, you aren't talking huge sequences. Way more restricted than even the 32bit windows version. I haven't built it since 2018.9. You can grab it from:
https://dankulp.com/xlights/xLights-2018.9-arm.tar.gz
It took HOURS and HOURS to build on the Pi, so not something I planned on doing too often.