Thanks for your answers. I wasn't trying to achieve anything exotic. I am using the Goetex 74HC14 inverter circuit and was simply trying to avoid hooking up another pair of inverters from the 74HC14 and the hassle of another cable. I thought it might be possible to connect both Picaxe serrxds (at the resistor input) to the inverted cable TXD and also both inverted sertxds to the cable RXD. Then through the PE, select the correct Picaxe, 20X2 or 08m2. I further assumed that if the 08m2 was selected, the 20X2 would not accept programming and I could program the 08m2.
I was uncertain about all of this which is why I asked the question. From your answers, this appears to be impossible.
Regards,
Baxter