Well, to be perfectly clear here, it depends on what you really mean
by "channel". RFM12 works in a fairly simple manner - it a specific
frequency for "0" and a specific frequency for "1". These can vary -
AFAIR by hundrends of KHz around the main band (i.e. 433 or 868 MHz).
These frequencies are filtered out by the receiver. If they are apart
far enough for two transmitter-receiver pairs, there's a pretty good
chance of them being able to work simultaneously.
Now, there are the "IDs" incorporated in the protocol. They occupy the
3 bits mentioned. These you use to adjust your lights separately.
So, I would say, no, SPOT works on 1 radio channel. If two SPOTs were
used simultaneously, there would be a good deal of interference, even
if they would be using different IDs.
P.S.: I didn't develop the SPOT system, but that's what it looks like.
I may be wrong though :)