YOu are close.. A diplexer is normally used to combine an over the air antenna with a LNB.. You need two, one at each end. they can not combine two LNB's however as the frequency bands have to be different for it to work.
Now a STACKER will combine two LNB lines into one by translating one of the LNB's to a different frequency band.. You need a DESTACKER at the other end to sort them out.
The multi-switch does indeed take two LNB lines, and "Expand" them to more lines.. This is useful to run 3 or more receiver/tuners (Two DVRs = 4 Tuners) and that is where they are used.
Some info: Sat Television transmitters use what is called circular polarization to send twice as many signals in the same bandwidth (Each frequency is used TWICE)
With circular polarization the signal "Screws" into the antenna, much like a bolt screws into a nut.. As you may well know, epically if you drove Chryslers some decades ago, you can have both Right hand (Righty Tighty, Lefty Loosey) bolts and LEFT hand bolts (which work the other way around) (Chrysler used left hand threads on the wheel lugs on one side of the car back then.. A very good idea actually)
The LNB has two antennas. inside, A single LNB can choose the antenna and send either the ODD or EVEN Transponders down the line to the receiver.
A DUAL LNB not only has two antennas, but two sets of electronics behind them, Each set of electronics can choose the antenna to use, Right or left.
DirecTV (DirecHDTV is a bit different) uses voltage to select Odd or Even (Left/right) and both output in the same frequency band
If you have more than 2 receivers, and a DUAL LNB, then the switch sends low voltage to one cable and high to the other, and it will pick the line depending on what voltage it receives.
IN addition there are other switches.. .These work the other way (letting a single receiver use more than two options) Multi-LNB (TWIN, Triplet, Quint) have this kind of switch built in.. There are assorted ways of working these switches and I'm not up to date on them so I'll not describe them
DISH network does things a bit different, Since the standard (NOT HD) dish antenna is a TWIN (Two LNB Dual output) they "Stack" the odd and even (Right and left hand) transponders.
Stacking is what I call "Frequency Domain Multiplexing", (What can I say. I am a certified technician and that is one of those technical terms

)
So if the receiver wants a station on Transponder 10, it looks at one frequency and if it wants transponder 11.. IT looks at a different frequency in a different band.
To choose which satellite (LNB) they use either control voltages or tones to switch a DSS switch in the LNB head (Digital Satellite System if you want to expand the initials)
Dish HD works the same way
Again a multi-switch can pick a line to send on to the receivers.
MOST dish receivers will work with an amazing varaity of switches and antennas.. They are intelligent devices and when you run CHECK SWITCH they try every possible signal and check the results, remembering the one that works.
DirecTV receivers need to be set up by the user.. So you need to know what antenna you have.. else it don't work.