I must admit that I've never really "seen" applications that ran parallel in that sense on a phase5 board - regardless which kernel or OS was used.
I am sure everyone have used PPC accelerated mpega.library or datatypes. PPC is decoding next mpega frames while 68k CPU is doing something else but of course memory bus is always a bottleneck there.
But CPUs cant run in parallel in sense they could work on same data structures simultaneously. Something like reading system structures is strictly forbidden from PPC side because it is not coherent (no, cache flush technique is not going to fix that).