I got here these units: 192v, 201 rxi and 203 rxi.
I'm imagining that the transformation talked about means the one you get you turn on the DDSP switch on the 201/203 rxi. For the 192v this transformation seems to be on all the time, regardless of the position of the DDSP dip switch.
The resulting image doesn't look like a full-on 240p, it looks more like a 480i but with much less flickering, the strong scanlines that I normally see in 240p content are not present (I use a regular SD crt tv).
However, I was just seeing a pic from a game being displayed through a vsc 700 + rgb 201rxi combo in Fudoh's website. It looks like strong 240p scanlines, don't know if that's the case because it's a bvm but mine doesn't look like that.

* I hope it's ok to link to it.
The pic I'm talking about is the ESPGaluda II one, on this page http://scanlines.hazard-city.de/.
EDIT: I want to make a partial retraction on this post and say that the 480->240p effect seen seems to be generated by windows rather than the Extron units mentioned. I've seen 240p coming from a device that doesn't go through the extrons, but the effect is still there, meaning it's not generated by the Extrons in the chain (i suppose it's Windows doing something).
Also tried a snes->component-> extron 203xi chain, and the hoped for 480i->240p effect is not there, so the 203xi doesn't seem to work for this purpose.