I finally got around to installing my US22-40. No surprises really. With the addition of an extra wire (red) to control the second load, it's mostly the same as the US2-40. The body seems a bit different but is still about the same size. Also of note is that the behind the light pipe/air gap switch are two LEDs, one for each channel. While there are two LEDs, there is still only one option setting to control the color changes. And, I can confirm what was pointed out before, the two channels can be configured so that one or both are dimmable.
The only "bad" news I have to report about the device is that the buzzing it makes while transmitting is considerably louder than that of the US2-40. I've heard people complain about the buzzing of other devices. While I have about 50 US2-40 I never thought it to be much of a problem. Often I'll put my ear near one just to make sure it's transmitting. With the US22-40, there is no need to get close. The buzzing is quite noticeable at arms length.