A:AnswerNo, this product doesn't support ARC.
You could try to connect the headphones model NS-HAWHP2 to the TV and your speakers to the docking station.
A:AnswerThis is only stereo so you can’t get surround from it. It needs to be in line from the tv input to the tv so you can’t get audio from streaming like Netflix. There are ARC enabled extractors that might work for you. I just got an optical converter since I only need stereo I still need a separate remote for audio this way.
A:AnswerThis product can convert your Apple TV's audio output to Optical or RCA connection; don't forget to set your Apple TV's audio output to PCM format.