Recent FB MK posts shared Toyota Simulknit samples.
The company offered attachments for pile knitting and for Simulknit. 
The latter produced a FI pattern on one side, with a solid color backing on the reverse.
A Brother imitation, DBJ with a solid color backing, is a method that will knit each color in each design row twice, resulting in expected elongation of the design, not a factor in single-bed FI.
Each two-row sequence must be identical, unlike the double jacquard fabric, where each row in a sequence may be different. This remains true even if the KRC-style separations are programmed to start with preselection from the right.
The Knitmaster SRP 60N ribber changes the cam settings automatically from slip to knit and back to knit, saving some time. The ribber carriage must be taken to the extreme left of the needle bed for the autocam lever to trip the driving cam.
From the manual 
The original file was chosen randomly based on the number of side-by-side squares in either color, since the color not chosen for the backing will form floats between stitches knit on the top bed.
End needle selection is on.
The backing color is worked with the ribber set to knit in both directions, the alternate color is knit with the ribber set to slip in both directions for two rows, and setting changes are made manually.
Since each repeat is 8 stitches wide, it is usable in punch card models.
The separation is 32 rows in height, enough to squeeze by in terms of punched areas. The usual recommended height for smooth, continuous rotation of cards in the drum is 36 rows; a second 32-row card could be punched and joined if needed.
The visual summary of the process.
The starting 8X8 PNG, 
doubled in height to 8X16, 
color separated, inverting every other row, then rendering the result double height so that each color in each design row will knit twice, 8X32, 4 times the height of the original 8X8, 
test knit on 40 stitches, but programmed for 48. 
The work on the machine, illustrating the pairs of floats formed by the light color after it has completed its two passes only on the top bed. 
A sinker plate hack for knitting on the top bed only with the ribber in work.
More ideas for working in one or more colors to produce knits with pockets in them, listed in historical order from latest to first
Blistered stitches DBJ single color
References for double bed single color fabrics with pockets
Quilting using Ayab software
Revisiting machine knit “quilting” includes Passap info
Quilting on the Brother KM 2, solid color back DBJ
includes a method for producing a single color background with the same color outlining/ joining the planned quilted shapes in the second color; the repeat is not separated, is a design where the original is rendered double height, is not color separated, 
and additional ribber cam lever settings changes are required. 
Quilting on the knitting machine 1 single bed
Tubular fair isle is possible, 
the problem is that the backing fabric is often loose when compared to the slip stitch FI patterning.
The blog post includes Passap info.
The color separation used in the swatch for solid color backing can be altered to produce a tubular fair isle. 
The preselection row is from right to left. End needle selection is on, and the first and last needles in use are on the ribber to produce the beaded, sealed edging.
Each color will form a single float behind the needles/stitches that are skipped and do not knit.
The carriage settings for each bed and work in progress. 
The first test was knit using matching tensions on the main bed and ribber, 4/4, with poor gauge balance between the sides of the tube. The difference is due to the slip stitch in the patterning bed, making for a narrow and short knit. 
A much improved result, with the tension changed to 7 on the knit bed. 
Birdseye backing meets a different color separation to result in each color in each row knitting only once: the 8X8 design did not knit properly when separated with that goal in mind, using manual separation, the Gimp script, and finally, the KRC function in the 930.
All needles were selected every few rows, spaced in different numbers for each method, with no indication of software download or machine issues, leading to this exploration using the same color separation as above. 
The concept should apply when working with more than 2 colors as well.
To avoid extra rows being knit on the ribber, slip/ lili/ birdseye backing is used. 
A side-by-side comparison of the change in the aspect ratio of the design using the single color DBJ backing on the left, as opposed to the birdseye version on the right, although both were knit at the same carriage tensions. 
Seeking blisters using a new design with a change in ground to contrast ratios, beginning with testing whether the design, simply doubled in height, and using tubular settings, can provide an alternative to color separations:
18X18
18X36
knit repeat, 40X36 with added borders. 
The carriage settings, making certain the tuck lever is not “accidentally” placed in the up position, 
both colors form floats. 
The resulting pattern is very different from the programmed repeat, forming a maze-like design; there are interesting bumps on the purl side, with alternating color single-row stripes.
The dropped stitches are from my having to cut yarns that got tangled around gate pegs just below the waste ribbing. 
Is more less? The repeat is now color separated, so each color in each design row knits twice, bringing the total of rows to 4X the original, 18X72. 
Visualized in 2 colors, the 18X72 separation was expanded with the intent of having the contrast knit for 4 rows only on the top bed, and the background for 2 on both beds.
The ribber settings change from A when knitting with the background color, to B when knitting with the contrast on only the top bed. 
As the ribber set to A and moving from left to right knits the pre-selected needles on the top bed, the floats in those areas will be encased.
The swatch includes 3 errors in switching the ribber slip lever on the right from knit to slip, and are identifiable by the rows with every stitch in the same color.
The result does not immediately evoke the original design. 
Programming the 18X72 row color separation produced successful blisters with the identifiable design. The light color yarn is a tightly twisted rayon. 
To explore further the blister dimensions formed by blocks and lines, this repeat is drawn from one referencing Truchet tilings, which explored varied techniques and pattern management, including DBJ pockets in single color knitting with repeats drawn on dotted grounds such as this, 36X36.
The starting repeat, 21×18, 
doubled in height to 21×36, 
and color separated so each color in each design row is knit twice,
21X72, 4X the height of the original, 
test knit on 42 stitches. 
There are large areas of non-selected needles when only the contrast knits on the top bed, forming long floats, which did not appear to be problematic. 
In ArahPaint in knit design 5, some fonts were tested and produced clean BW text for knitting.
Here, several rows in only the ground color are included in the repeat.
44X37 
doubled in height, 44X74, 
color separated, 44X148.
In this method, as the ribber is set to knit and the carriages move to the right, they knit every stitch on the ribber bed and any preselected stitches on the top bed; those areas seal some floats in. As the carriages return to the left, floats are formed behind the alternate color. 
The end needle selection is needed to seal the sides.
As in fair isle knitting, in areas patterning with several non-selected needles on the top bed at the side edges, before any carriage movements, end needles should be moved forward to D or E positions manually.
Conversely, when knitting only on the top bed and the whole row is not selected except for the end needles, push them back to A manually to avoid a float forming from one side to the other; the result is seen at the bottom of the purl view on the right. 
A birdseye version from Truchet tiling design inspiration 1 .
used to explore wide floats on the top bed as only the contrast color knits, the starting repeat 48X112, 
doubled in height to 48X224, 
color-separated, 48X448; 
img2 track on the 930 broke the design into multiple tracks, the first track, 180 rows, was test-knit.
With the ribber knitting the contrast with the levers set to slip from left and knit to right, there were consistent issues with dropped stitches when these areas were reached. 
As a compromise, the ribber was then set to knit in both directions when knitting the ground color, and issues with dropped stitches were eliminated. Pockets/blisters still formed, and the floats in the contrast were trapped between the background knitting on both beds, with visible horizontal lines bleeding through. 
Blistered stitches dbj single-colorwork 
pockets formed over whole rows
Pintucks 1 vs shadow pleats, fair isle pintucks 
Pintucks 2, ripples in knits using the ribber some published designs, racked variations, more links