@MoTo86: The problem is that sharing an account among multiple users and devices is not ideal for other reasons (all content is shared, syncing, archiving, etc. is not user-specific).
@norcalsheri: You can sideload magazine subscriptions and share them that way. You need to download the magazine onto the device with the subscription, then connect that device to a PC, copy the magazine file to the PC (you may have to guess at which file to choose, as they are a jumble of numbers; I use the date and size to find what I am looking for), then connect the other device to the PC and sideload the file you want. This works for me to read the New Yorker (which won't download to the NC but will to the classic nook) on my NC. It should work easily for 2 NookColor devices (you will probably need to enter the subscriber's credit card name/number the first time, just as you do for sideloaded ebooks).
I have also been able to read the magazine on my PC Nook software by pointing it to the sideloaded file on my PC and adding it to My Stuff. Note that some emags that can only be read on the NookColor may be readable (in part: article content only) on the PC for Nook application, but are not readable on the e-ink classic nook. I have found this with the Atlantic.
