http://www.adobe.com/products/eulas/pdfs/Gen_WWCombined-MULTI-20111031 _1230.pdf
Well the exact wording of the Adobe EULA is:
2.1.3 Portable or Home Computer Use. Subject to the restrictions set forth in Section 2.1.4, the
primary user of the Computer on which the Software is installed under Section 2.1 (“Primary User”)
may install a second copy of the Software for his or her exclusive use on either a portable Computer
or a Computer located at his or her home, provided that the Software on the portable or home
Computer is not used at the same time as the Software on the primary Computer.
So the answer is not simultaneously but installed on both and used one at a time.