Yes, you are correct. I have been studying a lot lately, and SIC time can only be logged if the aircraft is certificated for two-pilot operation. That I'm sure of.

I also suspect, but am not sure, that to log the TT in the program being discussed, the pilot in the left seat would have to be an MEI, with the guy sitting in the right seat logging the time as dual given. If the guy in the left seat were not an MEI, the guy in the right seat would be a passenger and the time not worth squat.