You can use the O22C to throw the 5121/2 switches, but as you noted, you will not get accurate position feedback on the illuminated bulbs. This is because the O27 switches of any era were not designed for positional feedback like the O22 switches. The closest one could get would be the 1122C, but that only keeps track of the toggle commanded throws mechanically and not actually tied to the switch position and so it can get out of sync.
Bottom line, you cannot get positional feedback to the controllers from stock O27 switches.
