If the panel isn't showing 120Hz, it won't be showing anything. It absolutely must show 120Hz by design.
60Hz is the source if the incoming signal is 60Hz. All theatrical movies are filmed in 24p (frames), and if your Blu-Ray player is set to send that signal in 24p format, the TV will take that 24p signal, display the frame 5 times and make 120Hz. But the INFO bar will display 24Hz. Or 30Hz. Or 60Hz, depending on the incoming signal, and that is determined by your source - how your cable box is set, or game console, or Blu-Ray player. Those devices have settings, and determines if the output signal is 24Hz, 30Hz or 60Hz. In some cases, you can change them. In others, you can't. That depends on the source box.
In no way can the TV show a raw 24Hz signal without first upconverting it.
The INFO bar will display 60Hz, or 30hz or 24Hz, as those signals can be used - and upconverted. The TV will process each one of them differently, but they absolutely MUST be upconverted to 120Hz (by processing) before those images can be shown on the TV.
The nice part with 120Hz televisions is that the upconversion process is mathematically correct for the incoming signals.
24Hz x 5 = 120Hz
30Hz x 4 = 120Hz
60Hz x 2 = 120Hz
Back when panels were 60Hz, and you had a 24Hz movie frame, you had a 3:2 pulldown conversion to compensate for the fact that 24Hz didn't evenly divide into the 60hz TV, which sometimes caused motion blur. 120Hz addresses that automatically, and you want it to. It's a better picture.
So all that is happening, and the television is merely informing you that you have a 60hz signal that represents the incoming signal. If you're watching a movie and it's a little blurry, you might use that information to decide to change the Blu-Ray settings to 24Hz, and you'll know that 24Hz is coming in. So it's just letting you know WHAT that incoming signal is.
Does that help a little?