It would be typical for an HDMI matrix switcher to go with the lowest common denominator for audio/video. There are times where they automatically set things up, but this is part of the headache with the world of standards we live in right now.
My assumption: You have two displays, one uses it's internal speakers, the other uses a surround A/V receiver. You have several sources you want to share between the two displays and you would prefer to use HDMI to do this.
Recommendation: The Monoprice is not likely to be much different than anything else. If your intent is to use the internal speakers in the TV, then you have a VERY serious issue if you want to send the audio via HDMI because the HDMI source MUST send audio out in a format which is compatible with that TV. HDMI won't send DTS-HD and stereo audio at the same time. So, you just get stereo audio. Not sure how you deal with that other than sending the audio separately from the video, which isn't going to be straightforward.
In my home I'm using analog audio for all stereo zones and coax digital for surround zones, then HDMI for (some) video only. I plan to include HDMI audio when I get a new receiver, so it will be interesting to see how things work, but you are delving into the world of digital hell right now, and with HDMI matrixing there simply isn't a 'great' solution. Especially with small HDMI matrix switchers which are typically far more expensive than the Monoprice one, and still very limited for production facilities.
You can pick up a 4x4 Extron HDMI matrix this spring for about $3,000 or so which will likely work really well.
Yeah, Monoprice is cheap.