The SBB box was made to work with MX monitors. The HDMI port is lousy to say the list on different monitors. So yes, funny, but the best way to use it on non-MX monitors is the VGA port. Rubbish really. In any case, there will be no PIP through SBB (no it can be), but there is a PIP function on the DX-2 device. So you can use VGA through SBB, but a template (the software) will only assume you use the source through the monitor NOT the SBB, so the short answer is you can't do it!
Bill