(since Greg responded at the same time as me...)
I don't think it's so much a blocking issue as a timing issue. There is a block brake at the bottom of the second lift, and I have seen them set the ride up with one train in the station, one on the second lift, and one at the base of the second lift. But the speed of the first lift is certainly related to the position of the second train.
Oh, and Den...the way The Beast operates is exactly the same. The delay on the first lift is in waiting for the second lift to clear.
For more about blocking, consult
http://capital2.capital.edu/admin-staff/dalthoff/blocking.html --Dave Althoff, Jr.