While there's only one "Favorites" section (of 14 pages) on the remote, they can be anything you want them to be. They're just macros that can have any commands in them, so you just have to separate the two cable boxes. The issue would be if you're using the channel icons, you couldn't distinguish between the two TV/Cablebox locations except by placing them on different pages (ie: pages 1-? are TV/Cable 1 and pages ?-14 are TV/Cable 2). To keep them together, you could use the blank buttons and label them accordingly (HBO-Cable1, HBO-Cable2), maybe with one location in the left column and the other in the right. There are other possibilities using push-and-hold and/or variables, but you get the idea.

Mike