Wireless Network Segregation (Technicolor EWH1350TLU)

Been a long time lurker, but a first time poster. Most people ask what I want to know anyway, but this is a question I can't seem to find an answer for (at least, one dealing with the Technicolor EWH1350TLU/Wifi Boost 6 hub).

On the web configuration page for the EWH1350TLU, it lists options for both guest and smart home wireless networks. I would assume that the guest network does what you'd think a guest network should do, and only provides internet access... 

What I'm interested in, is how the Smart Home network works... does this segregate traffic off the (for lack of a better term) private network? Are devices on the Smart Home network still accessible from the private network? Does anyone have any experience with the Smart Home network?

In an ideal world, the Smart Home network would create an "equipment managed" (AKA, I don't have to do anything setup wise besides turn it on) VLAN that tunnels traffic back to the Network Access Hub/FXA5000. Once that traffic reaches the FXA5000, it's routed to the internet, but nothing more. Ideally, devices on the private network can contact and communicate with devices on the Smart Home network, as the traffic would be routed between the two networks by the FXA5000. Effectively, a one way routing rule that accounts for responses from equipment on the Smart Home network.