I like the second idea better, truthfully, I do not like the idea of the Tag Titles being Split up and being on separate shows, I think WWE needs at least 3 or more really good Tag Teams to make the Tag Division really mean something, they really don't have that at the moment, Now if there was two Tag Team Belts, one for Raw & one for SD!, I think WWE would need at least 3 or more good Tag Teams for each show, that would be difficult to pull off, 6 or more really good Tag Teams in Total, personally, I don't think WWE can get enough good Tag Teams formed for Two Tag Team Belts to be meaningful, plus if they can get that many Tag Teams Form, I think One Belt would work better, just because they could have a lot more variety in the Tag Division, The Tag Champions could compete against the best WWE had to offer on both Raw and SD!, for Two Belts, it would always wine up being the same two or three Teams on Raw competing for the Raw Tag Titles, and the same two or three teams on SD! competing for the SD! Tag Titles, it would get a little boring after a while!
WWE actually has plenty of great talented Tag Team Competitors, but the Problem is WWE always breaks them apart and then doesn't do anything with them as Singles Competitors, most don't even get to the US or IC Title position, instead of doing nothing with guys like Carlito and Primo, or Shelton and Charlie Hass, they should of been using these talents as part of the Tag Division, same goes for guys like Zack Ryder and Curt Hawkings, most of these guys either get buried on Shows like Superstars or released from WWE, during their singles competition, or worst yet, they get put back into the Tag Team Division with someone who they have no chemistry with, it just doesn't make sense to do this!
Anyways, WWE could build a great Tag Division if they tried, and I really think one Tag Division would be the best way to go, instead of two (one for Raw, one for SD!), just because it would be simpler to do, and it would make for a lot more variety in the Tag Team Championship scene, different Tag Teams could compete for the belts, and not just the same two teams all the time, WWE could build a rather big and great Tag Team Division and add that variety to their show, if they put the effort into doing so!