I am not familiar with the port splitter, but you might be able to monitor the comms active status (S:33/4) bit in the PLC to detect when it stays off for a significant period of time.
I am not certain that it will go off, but I suppose you could test it.
As for the heartbeat logic, there are a couple of ways to do it. One example:
The HMI monitors B3/0 and sets B3/1 to match it. If B3/0 does not change states within 5 seconds, a comms alarm is set.
The PLC monitors B3/1 and sets B3/0 to the opposite state. If B3/1 does not change states within 5 seconds, a comms alarm bit is set.
Both bits should "flicker" at a pretty quick rate when everything is working normally.
Another method:
The HMI monitors N7:0 and sets N7:1 to match.
In the PLC, if N7:1<32767. Add 1 to N7:1 and write the result to N7:0. If N7:1>=32767, CLR N7:0.
I like the second method, since it makes it easier to "see" the rate of communication, and identify aberrations.
Paul