Yeah, I’d guess that’s right. It probably just has an internal address that’s paired with the double button press.
There are 5 IR emitters in a ring around the outer part of the Bond Bridge, pointing away from the center and up off the plane at around 45 degrees. I’d guess 10 feet would be fine, but you might need to adjust the position of the Bond a bit, or rotate it, if the receiver is in a region that’s not very well-covered.