A data transmission technique where high speed data is transmitted differentially in a forward channel by way of a serial link, and relatively low speed data is differentially modulated onto the forward channel signal for transmission in a reverse channel via the link. By utilizing differential modulation in both forward and reverse channels, the resulting signal has a common mode voltage that is substantially constant, resulting in low EM!. The spectral content of the signal associated with the high speed data may be substantially non-overlapping with the spectral content of the signal associated with the low speed data. This facilitates the recovery of the high speed data and low speed data with minimal interference. The differential signaling lends itself for communicating data via an inexpensive medium, such as twisted wire pair or parallel PCB traces. The data transmission technique applies to various communication network topologies: point-to-point, daisy-chain, and point-to-multiple points.