You must have another device 'something else' at the receiving end on your second TV.
I use a WDTV Hub and for the most part it works very well sending all Tivo channels elsewhere around my wired home.
Whatever you send into the Slingbox will play at the other end thru your WDTV, complete with remote control of channels.
So it seems to me that 'Yes', the WDTV is the solution for you. I suggest using fuily wired network throughout.