120 confirmations should take 4 hours or so, do you see your mined transactions while using the console ?
(Help / Debug Window / Console)
then typing listtransactions
you should see your transactions with a "immature" type
This is what I got
15:46:14

[
{
"account" : "",
"address" : "17n5bS6GKYXuyLxkNe7y5mWtJ54JHH4rke",
"category" : "orphan",
"amount" : 20.00000000,
"confirmations" : 0,
"generated" : true,
"txid" : "dd51117cf8803bf6e3b46ecf85641b4364cdbd22e643cade372f06641d1eb763",
"time" : 1352508960,
"timereceived" : 1352508964
},
{
"account" : "Mined TRC",
"address" : "1JpeWDubXaexR83wC5rwBdvPiSgVVJg3y1",
"category" : "orphan",
"amount" : 20.00000000,
"confirmations" : 0,
"generated" : true,
"txid" : "07401996dbe8f50d0692d8ca236913a99ac25bed003b061e177e34856d7fd020",
"time" : 1352658025,
"timereceived" : 1352658030
}
]