The issue described below is present on Total Recall VR recorders with firmware (application) release 11.3.0 or earlier. LAN1 and LAN 2 can have an IP address on the same subnet as of release 11.4.0.
The short answer is no (but see below), LAN1 and LAN2 cannot be given an IP address that is on the same subnet. For example, if the subnet is 192.168.1.0/24, then both LAN1 and LAN2 cannot have an IP address in the range 192.168.1.1 to 192.168.1.255.
This is because in Linux, which is the core if the Total Recall VR OS, the IP address belongs to the host and is not associated with the network interface(s). So, when there are 2 network interfaces on the same subnet there is no assurance as to which interface will be used to transmit traffic and the machine will accept traffic for either IP on either interface.