The only problem I could see here is recovery pre competition. For me when I do things like this I belive I receve great bennifits both short and long term. I will lose weight, lean out, retain strength atleast, and my met con and mental awarenes improve dramaticaly. However there is only a certain period of time before I need some seriouse recovery inorder to keep from finding the meaning of "too much of a good thing". During the recovery I will often immediatly gain 3+ pounds of water and fat and my metabolism needs an adjustment period before that fat is going back away. Still I am not adviseing against the two a day low cal IF I just wanted to share my experience.
Mike would know more but some carb cycleing around specific training scheduals may also be bennificial and may leave you further from a point of over training just before a copetition.