Yes, it is possible to define two SNMP traps in the trap_mgr.conf file. As the trap is defined by the OID generic and specific, you can only have one definition for a particular combination. At times, the notify and clear are determined by the specific number, with one being notify and one being clear. If the status is contained in a varbind, you will need to use a single trap definition and then use the ASL option to set the action to notify or clear. An example is provided below:

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BEGIN_TRAP .1.3.6.1.4.1.9.5.* 6 1
        ClassName:        Host
        InstanceName:     $SYS$
        EventName:        lerAlarmOn
        Severity:         2
        EventText:        Fddi PORT Ler Flag set to TRUE for : fddi PORT SMT Index = $V1$ And fddi PORT Index = $V2$
        Expiration:       600 
        State:            NOTIFY
        EventType:        DURABLE
END_TRAP
BEGIN_TRAP .1.3.6.1.4.1.9.5.* 6 2
        ClassName:        Host
        InstanceName:     $SYS$
        EventName:        lerAlarmOn
        State:            CLEAR
END_TRAP
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