Thanks John. It's amazing how unclear this actually is... I guess I'm making more of it than I need to. The manual says this:
"Use NEMA L14-30 plug with this receptacle. Connect a 4-wire cord set rated for 250 Volt AC loads at 30 Amps (or greater). You can use the same 4-wire cord if you plan to run a 120 Volt load.
This receptacle powers 120/240 Volt AC, 60 Hz, single phase loads requiring upto 6,000 watts of power at 25 Amps for 240 Volts or two independent 120 Volt loads at 25 Amps each. The outlet is protected by a two pole rocker switch curcuit breaker."
and I found a discussion on an RV forum where someone pointed out this disclaimer on a converter plug set:
"PLEASE NOTE: A 30 amp 7500 watt generator normally runs 30 amps to each hot blade on the receptacle. Since the RV TT-30 is a 125-volt only device, only ONE hot leg of the plug is wired, and the other would be inactive. Connecting this adapter to your generator for long periods of time may cause the windings of the generator to run imbalanced which could potentially shorten the life of the generator. GenTran is not responsible for any damage caused by the use of this cord."
But I don't know A.) what "long periods of time" means, and B.) is this just CYA stuff? So I called Troy Bilt and they said it's designed to run on either one or both legs. and it should be fine... Also, they sell cords specifically designed to turn this 4 prong twist lock into 2 or more 120V extension cord plugs... so wouldn't it be doing the exact same thing, only running one hot down one side of the cord, and the other down the other. If I plugged into only one of them... same thing.