here the idea is simple, if you add 2 switch you can configure the entire esxi networking as active/active or active/passive. Since esx wont create loop, and it is waste that another switch will be simply sitting idle, so we normally just use the infra as active/active. And take each pnic in the vswitch and attach to the each pswitch.Then use the default teaming policy, here you picture is correct both the nics are active and teaming is correct.
For ether channel, you need to do either use a multi chasis etherchannel for both pswitches with all the pnics in the vswitch or create individual etherchannel for each pswitch. And use IP hash as teaming policy, dont use beacon probing.
It is very rare we use ether channel, until you need to have a high network usage applications inside the VM. if you have Ent+ license just use LBT with vDS, that is the best teaming policy and give good aggregation and true load balancing.
refer the thread http://communities.vmware.com/message/2196987#2196987