I've a feeling it is to do with the throttle in the engine bay as opposed to the throttle pedal. Your car, like mine is in the target zone for having a Magneti Marelli throttle body.
Those codes look familiar, but there are various different failures that lead to the actual throttle being at fault.
I would suggest having a word with Spokoluzic on this board or you can get him at
http://volvodiagnostic.com/
P1120 Description
The Throttle Position Sensor (TPS) responds to the accelerator pedal movement. This sensor is a kind of potentiometer which transforms the throttle position into output voltage, and emits the voltage signal to the Engine Control Module (ECM). In addition, the sensor detects the opening and closing speed of the throttle valve and feeds the voltage signal to the ECM.