It sure is
The new remotes that ship with Dish 500 systems (the very least a 4722 Dish 500 system comes with one) and it has some new features, and took away some others. Specifically there is no address button on the remote for changing the address if you have multiple receivers. The new process is pretty simple, but not intuitive.
~To change the address do the following:~
Press the System Info button and the Information screen will be displayed
Press and hold the Sat button until it starts blinking
Press the # you want to change the address to (1-15)
Press the # key and immediately press the record button.
This should change the address.
~To program the remote to operate your TV/VCR. . .~
Turn ON the electronic device you want to program the remote to control.
Press the Mode button on the remote until the appropriate mode light is flashing.
Press the Address button. The mode light will start flashing slowly.
Press the Power button. The mode light will stop flashing and stay lit.
Press the Up or Down arrow button to set the remote to the next code. The Down arrow button scans backward and the Up arrow button scans forward.
When the correct code is reached, the device (whether a TV, VCR, or other) will turn off.
Press the # button followed (with a short pause) by the record button to store the code in the remote control memory. If the code is valid for your remote, the mode light will blink 3 times.
Turn the device back ON by pressing the Power button.
* The mode light will flash rapidly when the scan has returned to the starting point and all codes have been tested for that mode. The remote control may not control some device models.
Now, that's how you program your remote. The question is, will you experience signal conflict between the receivers? Example: changing both receiver's channel at the same time. Very likely.
Can you program your remote to operate a different receiver using the "aux" key? Consider me curious.
"Will I have to keep doing the two handed thing?"
Consider me curious and slightly disturbed
G'luck!