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Some clients play nice together, others do not.
With folding and genoming the priorities are set low, so they will always take a back seat to WHATEVER your computer is doing. They will work, but for folding this usually means that the larger WU's that you are working on will not finish in the time allowed by Stanford. Rendering the WU useless and Stanford will not use the work.
If you wish to contribute to more than one project it is best if you switch the projects off, a week of one then a week of another, and so on.
Exception: Dual CPU systems run two clients only slightly slower per CPU than a single CPU system of same speed. You would actually be wasting cycles to run only one client on a multiple processor system.