Lexicon MC-8 - Component Video Switching

Could someone please explain to me what component video switching means? I live in Singapore and my digital cable box only has a composite output. Can I plug my digital cable into my MC-8 and then derive a component signal I can put into my tv?

Thank you for your help.
No, it means if you have a component signal you can pass it through the lexicon.
Why anyone would put a video signal through all that uneccessary switching and noise is beyond me.
Video should come out of the source and into the display, thats it.
Component video switching means you can have multiple (up to three?) component video sources coming in to the MC-8, and switch between which of those sources is routed to the component output of the MC-8 (and presumably to the input of the display).

The intent is convenience - when you switch sources on the MC-8, you will be switching both the audio you hear and the video you see in one step.

An alternative is to connect each video source directly to a different component input on the display. You can then use the MC-8 to switch the audio and use the display to switch the video. Makes it a two step rather than one step process. That provides a more direct path for the video, although I have never read about any degradation of component video signals through the MC-8.

None of this matters if you only have one video source.