Yes it is possible to achieve a florentine effect using Matrix/Rhino, and obtain a satisfactory result.
The restrictions here would be Position of the texture and Size of the article.
Leaving aside the two above mentioned, the key then is width and spacing of the tools used to create depth.
This is where most CAD user will discover that the visual effect on-screen will greatly differ from the produced physical item. All of us who use CAD/CAM will be ever so familiar with this visual proportional issue.
Overcoming the loss of detail and polished/textured/low sheen areas ( talking here about a simple basic surface) is all a matter of working backwards from the desired effect in the finished item (at the planning stage), and understanding the limitations of the CAD tools chosen to produce the florentine pattern. Generally the cross-hatching shows a better result in the finished solid article if the different directions are at differing depths and are not at 90 degrees.
By the way Gerry the Cyber Setter: keep up the jolly good work. Glad to see you still at it.