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dont believe m$ can see external hdd. well anything that's not an m$ brand that is.
well in a nutshell you can use any set up you want either squirt 360 team xecuter and so onalso doesnt matter about the dual nand set up because they all do the same thing guess in the end it depends how deep your pocket are and theres like a 10% chance you will get banned due to the smc not resetting for some reasonand yes as theo stated if you use the same hdd for both rgh/jtag and xbl m$ can see the homebrew on there and will ban youi had one dual nand set up with a cool runner and a cygnos running for 6 months of heavy use on both sides never had any issues and i would inject a diff KV into the rgh/jtag side just to be safe
I had a console with TX Fusion on one NAND, RGH on one, and stock dash on the on board NAND, didnt have any problems. all the files were on the same HDD, I think theres a video of it around here somewhere