I want to display an Overview map - I know how to do it using a separate PageLayout or MapControl - but I noticed ESRI has an OverviewClass - how do I make use of this with the AxMapControl?
Instead of using the Overview class, I would just use two mapcontrols: a main map and an overview map.
The overview map would listen to ITransformationEvents on the main map's displaytransformation. When VisibleBoundsUpdated fires, update the overview map (centering it on same point as main map, but not changing the scale). In the event handler for the overview map control's afterdraw event, draw a red rectangle on the map representing the extent of the main map.