Hey,
I tired to look this up for you but found nothing definative.
It will work one of several ways:
A. The TV out is the same oas the main monitor but converted to NTSC.
B. The TV out is a second desktop so anything you put on that desktop is seen.
C. Using the hardware codec anything in that codec plays on the TV out.
If you go into your monitors contorl panel here should be two monitors displayed the second one is probably the TV out.
With Premiere if you are using a Realtime video card that has a codec like mpeg then anything that is in the codec will be seen playing back in realtime on that card. It don't think your card is designed to do that.
Another option is to buy a cheap scan covertor so that anything on you computer screen is cloned to a NTSC display as well.