Yes, it can work. I've seen quite a few machines on various sites and groups that have 2 motors per axis. But I think the only one I've seen here was InventIt's, and he had problems with his. It also depends on what software you use to run your machine. Mach 2 has a slave function so the second axis will do exactly what the first one does. It also allows the two motors to be rest independantly in case you do happen to lose a few steps.
All ShopBot's use two motors for their x-axis.
http://www.shopbottools.com
I plan on using 2 motors on my X-axis, but my machine is still a few months away from construction.
If this is your first machine, and you're new to CNC, I would recommend going with either a single motor and leadscrew, or the single motor/ belt drive/ 2 leadscrew method desribed above. Much simpler to build and get working properly. And a lot cheaper than having to rebuild if the 2 motor design won't work correctly. Just about everyone here will tell you when you're starting out, Keep it Simple.