The answer is yes, you can have two activated copies of the program on two different machines but not both active at the same time as I understand it.
Also read the terms and conditions of the 365 agreement very carefully and understand the full implications of committing yourself to the contract. Most permanent members here prefer to buy the programs outright and then 'upgrade' as and when we think is appropriate.
Also all answers you see posted here are from other users like myself and not Magix staff. Inaccuracies in answers can occur or be questioned / corrected by other users.