If you like challanges, experimenting, have time and knowledge on electronics, than there might be a way to use your board.
In AN084 you can read how to connect a quadrature signal to a small electronics circuit that generates the count and a direction signal.
Or device your own circuit.
From these two signals it must be possible to generate a count-up and a count-down output.
Since your board has two counters (I don't have all details, so I might be wrong), it is possible to connect the count-up and the count-down signals to both counter inputs.
Now basic subtraction (watch out for min and max overflow situations) should do the trick.
Good luck,
Parick de Boevere (pdb@serenity.nl)
Serenity systems design