It could, although it probably wouldn't be the greatest quality and you'll need a powerful enough GPU to drive the extra pixels at high frame rates. It is made more for static image displays. There is an answer to this question on the Displaylink website
I am currently using 2 of these along with my Lenovo laptop (total 3 screens) in my home office. The USB ports on the laptop did not have enough power to run both of them at the same time, so I used a powered USB hub that I already had. Works great as a 3 monitor setup.
The USB cable sticks out to the rear, and there are no mounting holes. The back of the unit is rounded, to accommodate the built-in stand, so it wouldn't be flush on the wall anyway. It's made to sit on a flat surface. With a long enough USB cable, it would look nice in a bookcase.
The AOC E1649FWU does not work with Windows RT. I just tried the monitor with a Microsoft Surface and it does search for a driver when you plug it in, but then fails to find anything. The AOC monitor uses Displaylink driver technology and as their website states, there are currently no drivers for it.