No, but one rx dongle is cheaper than two
ADS-B updates at what, 2Hz or so? Toggle the center frequency between 978 and 1090 every few seconds and call it a day, maybe add a track filter if you're feeling spunky.
You realize the dongles only cost about 15 minutes of flight time in my 182, right? I don't think anyone flying is going to sweat the cost of a second dongle very much.
The answer you seek is simple to find out. Go get the image and log into the console and shut down all the other web code and the watchdog stuff and then launch the SDR code for one band, wait exactly however long you want to listen for transmissions, then for the fastest cutover time, kill -9 that copy and launch it again for the other band. Not a perfect sample but it'll give you worst case.
The real problem is the time you're off one frequency and on the other. You're going to miss a lot of stuff. As you say, you can generate a track "coast" for the targets you have and assume they're going to keep flying that direction, but it's not very accurate. (There's already some target hysteresis in the display code for the screen I've noticed.)
The real problem - unless you have lots of time in your hands and nothing better to do, you're looking at many man-days of code work after that investigation to write a better way to switch and all that track guessing code, and you're saving $29. That's just not a very good use of your time.
And to build something that would send the two chunks of spectrum simultaneously up a single USB stream with no loss of sensitivity would probably drive the price of the SDR hardware well above $58 at retail. But research into the chipsets being made for other industries to see if one could be made to work by the datasheet, doing prototypes, and assembly of them into a workable product, would also take many man-hours.
You essentially would have to donate free time for months and have no intention of recouping it against two copies of a $29 retail price product made en masse in China for TV broadcast viewers? Never gonna find a way to make the economics of that work.
Enjoy the labor of love. I know I spent too much time answering the question just to show how nuts it would be to even bother. Of course if you're looking to pad an "embedded linux" and "SDR" resume to get a job doing that stuff, it's a great opportunity to do a bunch of work and write a white paper.