Characteristics of the Stimulated Electromagnetic Emission (SEE) spectrum recorded during ionospheric heating near the second electron gyroharmonic frequency, 2fce, have attracted attention due to their possible connection to artificially generated airglow and artificial ionospheric layers. Two newly discovered SEE spectral features within 1 kHz frequency shift relative to the pump frequency are (1) discrete narrowband structures ordered by the local ion gyrofrequency involving parametric decay of the pump field into upper hybrid/electron Bernstein (UH/EB) and ion Bernstein (IB) waves and (2) broadband structures that maximize around 500 Hz downshifted relative to the pump frequency involving parametric decay of the pump field into upper hybrid/electron Bernstein and oblique ion acoustic (IA) waves [Samimi et al., 2013]. In this paper, a two‐dimensional particle‐in‐cell Monte Carlo Collision computational model is employed in order to consider nonlinear aspects such as (1) electron acceleration through wave‐particle interaction, (2) more complex nonlinear wave‐wave processes, and (3) temporal evolution of irregularities through nonlinear saturation. The simulation results show that the IB‐associated parametric decay is primarily associated with electron acceleration perpendicular to the geomagnetic field. More gyroharmonic lines are typically associated with more electron acceleration. Electron acceleration is reduced when the pump frequency is sufficiently close to 2fce. The IA‐associated parametric decay instability is primarily associated with electron tail heating along the magnetic field and electron acceleration is reduced when the pump frequency is sufficiently close to 2fce. Characteristics of caviton collapse behavior become prevalent in this case. Results are discussed within the context of some recent experimental observations.