I have used the Rockwell clock tool with PLC5/25's through a ethernetIP/DataHwy Bridge, so Micrologix should be a piece of cake.
I used a one hour update and the PLC-5's via the gateway were off about 200 milliseconds, close enough for my task.
BTW, I find the tool works best on a server class machine, it does not run as a service, so you can't log off and have it work, on a standard PC.