Yep, your e-smith box is definately translating by default, not acting as a router. I doubt you own more than 1 real internet IP address, but instead are using free private IP addresses...multiple IP addresses are expensive and rare these days.
Since the packets are not being forwarded, but instead translated (and then the contents sent with the translated packet headers). So it is already doing what you wanted it to do.
If I'm not answering your question here, then give me more info as I must be off the track.
- Andy Gray