Component is Video only. To get sound you still need to use either the RCA's or Optical sound outputs.
Not sure how an active HDMI splitter works with HDCP content, but just a word of warning the TiVo is HDCP enabled and occasionally program material is locked. I have only seen this on downloaded movies, but it could possibly be enabled for some FTA content in the future.
Also when HDCP is enabled and you are using HDMI, the Component outputs are turned off. The composite outputs are always on though.
Peter.
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