Topic: NeTV or NeTV2 Subtitles SRT files

I'm interested in building an app to interface with NeTV or NeTV2 that will allow me to manage SRT files and overlay the subtitles on a film/TV show, etc.

Questions -
1. Can you monitor the HDMI input signal to capture timecode or any info that will provide data on the film/program time? THis will be important to sync the SRT/subtitle file with the video/tv program
2. I'd like to use the overlay function/ ticker area to display SRT subtitles, is this possible?

Sorry if these are ignorant questions, I'm a noob. If NeTV isn't the right hardware, can you recommend any others?