Server gives you an immediate ban, if you violate the rule 4 - cascading, connection of 2 and more receivers per 1 account, use of PIP option picture in picture, delayed decoding, access is re-shared for more than 1 receiver (resharing) and understated timeout to listen to DW from the server (< 7 seconds) in emulator settings.
In your case, yes, you will be banned, is you watch and record 2 different encrypted channels which require different keys for each channel (consequently, 2 queries to the server at once).
If you watch 1 encrypted channel and 1 FTA channel at once - no problem, 2 FTA channels - no problem too.