I am not actually positive because I've only used Rollei Bay style filters (which definitely will not mount on both lenses at once), but I think this must be using two Bay III to 43mm rings. 43mm is the smallest I have seen stepping rings from Bay III, so I've always assumed this is the cut off before vignetting would occur.
If you search around you'll find discussions of people getting Korean made recessed filters on the auction site. It sounds like these will allow mounting on the viewing lens while a hood/filter is on the taking lens, but I haven't been able to actually find them myself. I don't usually use filters on the taking lens, just a hood- it manages to deflect most potential damage from both lenses.
FWIW, it doesn't look like the set-up in that picture would also allow for a hood- at least not a Bay III style one; I guess a screw in could work on top of the taking filter.