It works quite well; you select the game window for capture, and it doesn't show anything else. :)

That is, when you choose Game Capture (similar to Game Source in XSplit), it only shows a black screen. There are no problems with capturing the "window," but the point is to "only show the game." Meaning, the capture should be only from the window, not from the area. If you capture based on the "internal content of the window," it's still considered capturing an area, so when the window is minimized, everything behind it will be visible.
However, I think I'm going in the wrong direction with my reasoning; the question wasn't about that.
In short, does Game Source work in XSplit, or does it also show a black window, like in OBS? Does anyone have a licensed/cracked version of XSplit to test this? All the streamers I've watched capture either just the internal part of the window or the full screen, so everything is visible when Alt+Tab is used.