I have just tried that on my laptop. I got some warnings:
$ xrandr --output LVDS1 --fb 1366x768 --transform 1.171527,0.152543,-117.152659,0.000000,1.171527,0.000000,0.000000,0.000223,1.000000
xrandr: specified screen 1366x768 not large enough for output LVDS1 (1602x773+-118+0)
xrandr: specified screen 1366x768 not large enough for output VGA1 (1440x900+1366+0)
Well, It seems that the frame buffer should be larger enough to hold the size mentioned in the warning. So this should work:
xrandr --output LVDS1 --fb 1602x773 --transform 1.171527,0.152543,-117.152659,0.000000,1.171527,0.000000,0.000000,0.000223,1.000000
For me, as you can notice, I'm using dual monitors I do need a frame buffer to hold both.
xrandr --output LVDS1 --fb 3042x900 --transform 1.171527,0.152543,-117.152659,0.000000,1.171527,0.000000,0.000000,0.000223,1.000000 --output VGA1 --auto --right-of LVDS1
Note: Mouse pointer is not showed on the transformed monitor, but I can notice its move over highlight on widgets.
Dell Latitude E6430, Intel 3rd Gen Core processor Graphics Controller (i915), Ubuntu 15.10, KDE