Normally, only the "master" EFIS's - the one you performed your DSAB configuration from - EDC provides heading to the entire system if you have them connected via DSAB. If that EFIS fails, the other EDC would take over for its own EFIS if it's also been calibrated. I'd recommend, after you've gotten everything set up, "failing" each EFIS by simply turning each of them off to make sure everything is set up right.
The serial output to the transponder is tied to the EFIS whose serial output line is connected to the transponder. You can't connect both EFIS's transmit lines to your transponder - they'd interfere with each other electrically. So if that EFIS fails, you'd lose your altitude encoding to the transponder. (As an aside, SkyView has a unique and more advanced architecture that lets EITHER display feed serial data to external serial receivers like transponders, allowing you to connect all serial lines in parallel. This means you lose NO functionality should one of two SkyView displays fail in your aircraft.)