Well there are a few issues I can see with this setup.
The first one being that the screen divided into 2 like that would actually give you two 7.6" touch screens that are 6"w by 4.75"h. The problem is that depending on the monitors resolution and input type, it might look really crappy. If it isn't using a DVI or VGA connection, it will look really bad. If you could post a link to the product that would help.
The second would be that you would need a video card that would support rotating, if you are using on-board there is a good chance it might not.
Now you should be able to have both of the apps running at the same time, just set RR to only use the dimensions of the top half and position the other app's window at the bottom half of the screen, theorhetically, it could work.