I haven't studied the schematics, but I'd have expected the two controllers just have an enable line on each which would allow them to be multiplexed using a not gate and a few wires i.e. there's no controller above the two controllers controlling things further. And that would include things like dual channel, so I think it's more likely there is this enable line concept and the dual channels are each of the two chips under each controller. Therefore it should be possible to has a setup much like daveshah suggests, if you replace the word 'channel' with 'controller'.
Whether there's any monetary reason for implementing this setup though, I doubt. Maybe ED's left with a bunch of 512MB DDR chips and doesn't have any more 2GB orders coming in, but people are asking for 3GB. The price differential between 2GB an d 4GB is kind of small though, so I'm not sure whether anyone would ever ask for 3GB for a few euros off the price of a 4GB. And getting a new setup like this tested and working can take a while, as we've seen with getting 4GB to work, and doesn't therefore happen for free, so may be even less likely to be made.
And those spare 512MB parts could be held back for the Pyra phone project or something else.