Originally posted by: krotchy
A passive splitter is shady at best, though it might work. HDMI is not designed to terminate into 2 sinks, especially if any bi-directional communication like HDCP is being authenticated. There is definitely a potential for damaging some components in the chain. An active splitter would be much safer, but much more expensive, certain high end receivers have 2 HDMI outs, or you could use:
http://www.gefen.com/kvm/dproduct.jsp?prod_id=5744
It is definitely expensive from Gefen because they are pro audio, so Im sure a cheaper one can be found. Monoprice has a 4 -> Splitter but it is currently out of stock.
Truthfully though if I were you I would feed one LCD with HDMI and one with Component, cheap easy and safe.