I am having this same issue now. Glenn, did you ever find the fix to this? Or can we get help from an Admin?
Basically, I have done the same thing (added 2 editors to one page). The second instance does have the subsequent = true statement. The first instance keeps giving me the "The area you are attempting to access is forbidden" error when I click on the "Insert Hyperlink" icon, while the second instance works fine. I also found that the code Glenn pasted is the code causing my issue too. So basically, each instance has its own $_SESSION['CESecurity'] definition, which causes the first instance's security code to now be different.
How can we fix this?