RE: Charging two batteries at same time?
The AccuCycle is a timed charger. So, it will pump out charge current at the setting you select. Discharge is another issue though. It draws down a pack to a value of 1.1V per cell. Bottom line, is it probably will work for a charger but the I would think the charge would not be equal.
What you could eaisly do though is to to setup an adaptor that would allow you to charge both packs hooked in series. You then would have a 9.6V 750MAH vs a setup with the Y cable where you have a 4.8V pack at 1500MAH.
I've used the Accucycle for a few years now, and I've found that the high MAH packs, IE the NiMh packs of 1500 to 2300 MAH don't charge very well on the accucycle. I've got a couple 1200mah NiCad packs I built and I run into trouble with them also. My field charger that does peak prediction works a lot better. Still not happy with the NiMh charges though as it will over charge them at times. The best bet for these would be the AccuCycle Elite which has a thermal probe to prevent overcharging.
I think you best bet would be to use the Y cable, but cut the red on one female and the black on the other and splice the plug ends together for your series hookup, then charge them as a 9.6V pack.
Don