I believe that if you turn off "Automatic synchronizing" and you just manually copy and manage songs through iTunes, you can use it on both Mac easily. You just have to drag songs in and out of the iPod as if it were a playlist. Not so hard, eh?
Also, for more casual things... like, just copying one or two songs off of the iPod, while still letting it automatically synchronize with one particular Mac... there are programs which bypass the invisible music folder heirarchy, and let you copy music out of the iPod.
So, the answer to your question is a big ol' "yes." Hope you enjoy your iPod.