Here is a bit of info:
i am circumsized and I sort of have "two holes" there is the one hole, but just slightly under there is a very small hole. Usually if I masturbate or urinate, nothing will even come out of that hole. There should really be no reason for this to be harmful in any way.
However, if you find that you either ejaculating or urinating out of two seperate holes, this could be an issue.