That's how I've had my transmitters set up, so you should be fine. I never turned on the "Multi TX" part, largely because I hadn't paid any attention to it. I've tried to run a locomotive with two transmitters tuned to the same loco, and the loco pretty much just sat there, trying to figure out which of the two signals it wanted to listen to. This situation doesn't come up often for me unless I'm bench testing something and have reason to have two transmitters on at the same time. I never gave it a moment's thought beyond that. Then I saw this thread, did some digging, and found the Multi TX setting on my transmitters.
I had the same trouble as Frank trying to locate documentation for this feature, so I took my two transmitters to the workshop and had a go at testing. With Multi TX turned "off," the loco behaved exactly as I had experienced previously. I had one transmitter set to 0, and gave the loco some throttle on the second one. It jerked forward then stopped, then jerked forward, then stopped; not knowing which of the two signals to listen to.
With Multi TX turned "on," the transmitters appear not to fight each other for control of the locomotive. I set both to 0, then gave the loco some throttle on the second one. It took off, running smoothly, ignoring the fact that the first transmitter still showed "0" on the throttle. I then adjusted the throttle on the first transmitter, and the loco responded to that change in throttle. I don't know exactly what the electronic difference between the two modes is. Whatever it's doing differently, it works much better. I don't know if there's a trade-off in terms of response time, power consumption, or anything of that ilk.
Later,
K