Making FCPX "Portable"

P.S. Download the app from the App Store. Copy it from one machine to another. Don't forget to run the download additional software on both machines. It's not that big. Mostly extra codecs.

The simplest way to do what you want is to use what's called managed media, so your media in contained inside the library bundle. Get a good, fast external drive. Make a new library for each production. Save the library onto the external media drive. The default library properties is managed media, so you're really good to go as soon as you make the library. Everything you import goes into the library. Just take the drive from one machine to the machine. The only things to watch out for are items like fonts and extra plugins and such that might be on one machine and not on the other. Everything for the production, original media, optimized media, render files, proxies, whatever travel with the library.

I will start with the last phrase:

PS Any tips on how to install the software on my two computers? Is there a trick to it?

No trick. As long you own and control both computers, you are allowed to buy once and install it on both. Either download from the purchases section of the App Store again, or put the application in a thumb drive and copy it to the other mac.

Just to add that if you use any custom Motion effects, you should also copy the Motion Templates folder that is found in Movies from one computer. to the other.

Russ