Just formatted a PNY 128gb "Elite microSDXC" card and it seems to work fine. Added to compatibility wiki.
FWIW, Probably redundant but I do the following to my 64gb & 128gb cards:
- SDfomatter (Default settings / Quick format)
- GUIformat (default settings / FAT32 format)
- follow regular recalbox os install directions
Hope thats helpful....