On the engine? Both my M's have 2 as well. One on the side of the block by the dipstick and one on top of the valve cover that I never use. I suspect it's for engines used in different applications.
On the gearcase I also have 2. One red filler plug and a large round rubber cap farther up that again, I never use. I suspect that is for a quick factory fill but not sure,
The more the merrier....