I think so. Just install a separate copy of Oddcast to another directory. I run two separate feeds off of one machine, and feed those two feeds to multiple Shoutcast/oddcast servers.
I simply installed the first copy, and then I copied the contents of the directory that was created to another newly created directory. I run each instance of Oddcast from its own directory. Then in each Oddcast I set up two destinations to feed it to, for the two separate servers that I stream to.
Mike