Hey Ben,
This is an exciting new feature that Vision for RT provides. If you've done any Vision programming, it's really easy. All you do is specify a window number of 15 for the standard WindDraw VI and then download the code to RT and whatever you display with that VI will appear on the monitor connected to the PXI RT machine. It is required to have an 8175/6 controller to take advantage of this functionality though.
Check out Chapter 4 of the User manual for more information:
http://www.ni.com/pdf/manuals/323246a.pdf
PXI Video Out supports greyscale and color images, and color overlays.
Hope this helps,
Brad