The engineering supervision exception allows parallel neutrals for a wire size smaller than the usual 1/0 minimum for parallelled conductors. It does not allow for increased condiut fill. An additional #2 THW in this conduit will exceed the allowable fill. 1 1/4" conduit allows .598 sq.in. fill. It currently is filled to .533 sq.in., and therefore maxed out for #2. This is a good example of someone following the minimum code requirements. 1 1/2" conduit would of been easier on the pull, also. But, hindsight is 20-20, and I can't say I blame the installer.
Is this a theoretical, or real instance?