It's not quite a threadjack, as we are talking JVC receiver issues, albeit not the new ones coming out in a couple months. But, those probably have the same issues, too.
I'm not sure if 'you're missing anything' if you use a single mono splitter. You could buy a pair and certainly see. If you listen to stereo music, or choose 2 channel mix when playing a DVD on your audio setup options at the beginning of a video, it's going to sum everything for you beforehand (if not, your player will do so automatically anyhow based on the connection...I'm pretty sure my Pioneer DVD does). If you are listening to DVD, DVD-audio, or SACD Multichannel, it may be meaningful to have separate splitters as you are them listening to dedicated 2.1, 3.1, 5.1, 6.1 or 7.1 audio with specific information fed to the subwoofer.
But, we are talking about the little Toshiba...a model that only has discrete left and right channel outputs.
Gary of Panda Audio, then the rest of us, found that the DVD Multi input is superior than DVD (digital) input. Another (redundant) digital to analog coversion is bypassed, and it sounds purer. P.8 of the JVC Owners Manual spells out and agrees to the superiority of this connection, too.
Take a stab at your hunch and report your findings...inquiring minds wanna' know
