I used to play this a lot from 1996 until the Sega Channel went offline two years later. It had the same general settings as the S-NES version except with different music for moving the pieces. There was also an option to display the pieces as letters which I don't think any other version had (with N being used for the knights, just like in score-keeping).
Apparently, the Chessmaster ROM never got dumped from the Sega Channel, just like what happened to Garfield: The Lost Levels. It was being planned for a physical release on the Genesis console itself, but this did not surface and no trace of it exists. One article advertised a release in the second half of 1992 and another a March 1993 release.