Right, I've done some testing with this now.
Scenario 1: Zgemma box 1 initially connected to 2 x Satellite cables and setup as a standard box with all bouquets and channels etc. Then Satellite cables removed, tuners disabled. Within the Menu > Setup > Usage & Gui > Customise menu, I've 'enabled fallback remote receiver' and set the 'Fallback remote receiver url' as
http://x.x.x.x:8001 (where x.x.x.x is the IP address of Zgemma box 2 which is all setup and connected). With this all setup I can browse the channels originally setup on Zgemma box 1 as if they were native on my box. I can timeshift and record. You will notice two things in the info bar. There is no tuner shown (usually this would be a or b) and the SNR% is blank. This confirms that you are streaming (other than the obvious absence of satellite cables at the back)
Scenario 2: Remote Channel Stream Converter installed on Zgemma box 1, Zgemma box 2 details entered into the plugin and the 'All Channels' Bouquet downloaded from Zgemma box 1 (this sits as it's own Bouquet on Zgemma box 1 listed as 'All Channels (remote of x.x.x.x)') - I can select any channel and the stream starts (again confirmed by a lack of a tuner designation in the info bar as well as no SNR) - I can pause and record.
Both scenarios work, but what's the point of adding a plugin and downloading a bouquet when you don't need to?
Both are amazing uses of this kit and I will be pushing this a little more to see how far it can be pushed. :)