Firstly the above is done not from the management console, but from our new Webclient Admin panel.
Secondly, if you are using the X5U with firmware v2.4.12, I'm 99% sure you have the Revision A model (which unfortunately cannot run this feature due to hardware limitations)
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You need the model that shows Rev. B (as in Revision B, which also has a different model name X5U-V2)
Note: This is an engineering sample model, the final model might appear a bit differently but you will clearly see Rev.B as an indicator.
But yes, if you have the correct model, the firmware of that model contains the 3CX SBC built right into the phone and it can perform as an SBC both for itself, and for another 10 "normal" phones.