It sure is. Simply detach the display (right click in Playing Now or in the Display View or in the little Theater View Playing Window and choose Detach Display. Then drag that window over to the other monitor and maximize it (or size it appropriately). That display can be set to view video or any visualization or display plugin. It remembers its size and position (including which monitor it was on) so next time you open it, it'll go right back to where it was.
For some reason, MC annoyingly closes any open Detached Displays when you enter Theater View, so if you tend to switch in-and-out of Theater View a lot then it might not work real well for you. However, if you just stay in Theater View (or Standard View) most of the time, it should work fine!
I also noticed (just now) that when you have a Detached Display open, it breaks the regular F11 function (which now Minimizes/Maximizes the Detached Display). Annoying! Any chance we could get these two things fixed? I'd really prefer that MC not close the Detached Display EVER unless I manually tell it to. I'd like to be able to cycle in/out of Theater View/Standard View (using F11) with the Detached Display open and untouched.
EDIT: Gappie beat me. Good job Gappie!