Okay... no, that cable as an example won't do what you want. That particular cable appears to only use the USB connection to provide power for the video signal, not taking a video signal in through the USB port.
But, if we go back to Jim's post above, he says that all of the devices he's tried have the same type of delay between the signal and when it displays on the screen. I know even the Roxio VHS to DVD device has a couple second delay. I think you will have a very hard time finding anything without that delay, because you can't simply send an HDMI signal into USB, it has to be converted into a different format, and that conversion is very processor intensive and takes time. And then, once the signal comes in through the USB port, it has to be rerouted to the monitor.
I'm not saying it can't be done. I just don't know what device might have that capability, sorry.