The "coordinator" concept is part of the OpLink code, call it the transport layer. Telemetry is a higher layer that creates data for the transport layer and doesn't know (or typically at least shouldn't know) anything about OpLink.
It sounds like you could try a Y cable to get the telemetry data, and if it is the right uart data format (databits, stopbits, baud, etc.), content (OP UAVOs or MSP, including versions and minor variations) and container (nothing that makes it hard to find the packets, like a wrapper that causes a stupid OSD algorithm to do a false start and then miss the real packet start) for your OSD, it will work. I am guessing that there is no handshaking required by the OSD. If there is, it would be a problem. Maybe run it at a lower baud rate so it doesn't need handshaking. I am guessing there is no handshaking with the receiver or you would have the same issue as described before... if RC receiver is out of range, the OSD stops updating. That may or may not be an issue for you.