You have to have 4 ranges when doing the CTRIO is configured remotely via ERM. However, it is recommended that you only use two ranges for your CTRIO config if it is local. This is due to the fact that the "complete cycle" of data updates between the CTRIO module and the CPU is twice as long with 4 ranges versus 2. If you have a 260, the CTRIO can usually do 2 transactions per PLC scan, so if you have 4 ranges, it will take 2 PLC scans. If you only have 2 ranges configured, then it will do all transactions on every PLC scan.
Therefore, the distinction on the IBox is not 2 ranges vs. 4 ranges, but is it a remote CTRIO (which must use 4) or is it local (which SHOULD use 2). You can configure it "remotely" with 4 ranges even if it is local, but you extend the latency with status and commands just a little bit.
The workspace registers in all of the IBoxes are 1 WORD long. If there is a buffer (e.g. ECOM100 IBoxes), or a double-word parameter, the IBoxes would display a range (e.g. V2000-V2001 or V1400-V1500)