Here's the dilemma I'm looking at. There are several possibilities for completing this game, and as discussed many times, there are several possibilities for completing any game, with or without warps.
SMB1 is simple to calculate - speed with warps and speed without. So, there's not too much else except for points, which is lame, so I won't mention it (oops).
Contra is another good example - single player and multiplayer runs would each be fun to watch.
Metroid touches on the complicated side a bit - pure speed, 100%, bossless, and 1% runs have all been performed. I believe it was decided that a bossless run was redundant, so it was deemed the new pure speed run, pending the release of a faster speed run.
And here we are with Battletoads. The problem here is that we're looking at the same stages with the same battles over and over again. With Metroid, you have different routes, with SMB, you have everything and not everything, with Contra...well, Contra's just too cool to have too many runs. But after the first couple of stages, Battletoads turns into a memorized obstacle course rather than distinguishable, varying levels of fighting.
The bonus with this run is the pure speed - because of the 2nd player bug on level 11, the two player run can't possibly be faster than the single player run, even with twice the fighting power on the bosses. So, a single player, warping run is the fastest possible route for finishing the game, and therefore worth publishing.
That said, for aesthetics and randomness, I think it's important to watch (in any game) how two players can work together to accomplish the same goal, and it's mucho fun-o to watch one player throwing the other around like a rag doll. Because this would be more of a visual demonstration, more fun to watch than exciting, it doesn't matter how fast it is and would be even more fun to explore every level in the game - especially in a game like Battletoads, which incorporates every possible game mechanic under the sun.
So, in a nutshell, I'm voting "Yes" for this, but with hopes that the categories for Battletoads are set in stone with the following two categories:
1-player, warping
2-player, warpless
Sorry that got long.