Why do you think it wouldnt eat a small dog?
They are opportunistic eaters
meaning they will eat just about anything they have the opportunity to.
I understand they will (per instinct) primarily hunt the waters and shoreline, but many backyards will butt up to the canal it claims as its territory, and Im sure several of those yards have dogs in them.
In my experience, small dogs have more balls than brains
and if they are used to the alligators that move slower than this monitor and are far less likely to chase the dog
Then the dogs are likely to under estimate the monitor and put themselves in a bad position
I think it would be an awesome sight to see
but not something Id want to deal with living in my back yard.
If you invite one of these members over to catch it, let me know. That would be worth flying down to watch