I would guess this just has the y-connector built into the cable, and that it isn't actually two separate charging circuits with separate wires. The cable from the Y-point to the charger is no thicker than the two arms of the Y, implying that the wire is the same and that it only has two wires in either arm *and* only two in the main cable.
So...all the caveats about charging paralleled batteries would still apply--they'd both have to be at the same voltage to start with, since you'd be paralleling them (via the charger wires), and be in the same condition, etc. If not, then problems may happen (potentially catastrophic, unlikely but possible).