Short answer is maybe, depending...
If both LC engines are dual motor and/or with smoke on pulling long or heavy trains with incandescent lights uphill, probably not. The main throttle controlled output on the Z-1000 is rated at 100Watts, so it really depends on the trains you try to run. To a lesser degree, the wiring and length of track and connections will also add some resistance that will slightly reduce the power available to the motors.
You may be able to run two short single motor trains simultaneously with smoke off and no or few incandescent lights on the trains. I believe others have mentioned previously that this lesser option works for them.
