Does it have to be two separate applications ? Can't you just run the video grabber code and the video player next to each other in one app ? It would be the easiest! Something like:
videoGrabber.draw(0,0);
myVideo.draw(960,0);
If it really needs to be two separate application, you probably can make 2 frameless windows and position them next to each other. It will be fine unless you need to use the content of app A into app B and vice versa