necromancist,
Depending on your Procaster audio configuration Skype will capture both your audio and the person you are speaking with. By disabling speaker's audio you can disable the other persons chat, by disabling the default audio you can disable your own audio. To setup Studio for more than one camera feed you can add others to your production team. Please visit the following session of our User Guide for more info on this:
http://www.livestream.com/userguide/...t_up_your_team
Matt
Livestream Producer Support