No, the Elapsed Timer Demo can only have one timer at a time.
The same concept can be used to create multiple timers, but this demo doesn't do that.

Since the ON and OFF periods can't happen at the same time...
When one period is finished, Reset the timer and measure the next period.
You only need one timer.

You don't have to stop and start the timer, just GOSUB ResetTime, and the time will revert to 0d-00:00:00.0 and keep counting.
Use it like a Stopwatch.

The interactive LCD on this page shows how it works. (Click on the "GOSUBs")
http://www.darreltaylor.com/DT_INTS-14/elapsed.html
But that page is for the DT_INTS version of the Elapsed Timer.