You should be able to see the sine wave from the second channel, you don't need to do anything to see the second channel. The second channels output amplitude is lower at higher frequencies so try again at a much lower frequency (say 1Mhz)
You can change the amplitude of the output sine wave by adjusting the blue pot. This pot also adjusts the mark space ratio of the square wave. One of the problems with these modules is that the amplitude of the sine wave reduces with increasing frequency.
A buffer amplifier is recommended for these modules, as connecting a load to the output of these modules can sometimes cause the AD9850 to behave unpredictably. The exact design of the buffer amplifier is dependent on the frequencies of interest.
I sell on eBay software to control these modules programed into a 16F628 PIC, contact me if you are interested.