After some brief experimenting, it looks like you can successfully modulate the Ultrasaw how you're describing, but not very conveniently.
What I had to do was use the assignable matrix slots. I assigned two slots both to VCO1's Ultrasaw knob, and used LFO1 at +99 on both of them AND on the regular LFO1->VCO 1 Ultrasaw assignable matrix slot. It was working how I expected it would sound at that point, but it took 3 uses of the same LFO. Again, not very convenient, lol.