Wasn't it the case that Marcopolo 1/2 actually were identical birds, with the same transponder frequencies? I'm pretty sure that when they were redeployed as Thor 1/Sirius, they were certainly on the same five transponders.
As I understand it, the frequencies were limited to 5 because that was the allocation given to the UK and Ireland (3 for the UK and 2 for Ireland). I'm sure that doesn't mean that they could only physically transmit on a limit of 5 frequencies between them
ISTR that the two satellites were designed to be co-located and to share duties - so some channels were carried by MarcoPolo 1 and others by MarcoPolo 2. There were only 5 transponder frequencies because those were what were allocated in the DBS band that BSB used. If a transponder failed on one of the satellites, the other would be used. I'm not familiar with the uplink/downlink systems used at the time - so don't know if transponders could be re-tuned. AIUI transponders used transposer technology rather than demodulate/remodulate systems, and I don't know if the transposers could be altered remotely, though I may be wrong.
(Sky used the FSS band which was licensed differently - and wasn't originally envisaged for direct-to-home use)
From memory most TVSat (Germany) and TDF1 (France) were co-located and one used right-hand circular polarisation and the other left-hand polarisation, and each used the same 5 frequencies (I think), for D2MAC rather than the DMAC used by BSB.
The BSB Squarial had to be dismantled to alter the polarisation, as did the LNBs on the mini-dish they used, as each country was allocated a single polarisation and didn't need to switch LNB polarisation between channels. I had Philips and Ferguson boxes with hacked firmware that let me watch D2MAC transmissions from the two satellites when I was at uni - including the Barcelona and Albertville Olympics HD broadcasts - which we watched in 16:9 SD RGB on a Philips monitor which we scan crushed to letterbox.
(I must have been one of the first people to have had satellite TV at college c.1991/2 - the Squarial just sat poking through my window