It is not going to work as the CC adds all the input together.
However, it reports them separately:
<msg>
<src>CC128-v0.12</src>
<dsb>00065</dsb>
<time>11:50:26</time>
<tmpr>21.1</tmpr>
<sensor>0</sensor><id>00077</id><type>1</type>
<ch1><watts>00112</watts></ch1>
<ch2><watts>00109</watts></ch2>
</msg>
This is with the permanently connected current clamp and a plug in one both on the cable into my consumer unit. The display shows the sum of the two (i.e, twice my actual consumption) which would, indeed, be pretty useless for the proposed setup.
(Note, I added a few line breaks to that XML for readability)