Yup. Exactly that. One nice thing is that MyDMX rememebers window positions so as long as you keep things the same, so will myDMX!
ALSO:
If one has the luxury of doing this, it is a very sweet solution. I do it all the time except I do it from my 17" MacBook Pro. I use my 50" Sony Plasma flatpanel HD display for MyDMX. I have to do this while the wife isn't around because it annoys her!