I think part of what's tough about assessing the twin factor for highly rejective schools is the same as any other pairing of qualified applicants: you don't know the school's institutional priorities. In our case, our daughter had better grades (though both kids were strong, and both with highest rigor at their school) and had a better SAT (again, scores were close), … but was a girl; our son had slightly better ECs, probably slightly better LORs, and is a boy. So … different schools could have seen either one as "stronger" depending on their institutional priorities.
In our case, the admission results (for both) perfectly mapped to overall school rejectivity — any schools under a 5% admit rate = rejection, any schools between 5 and 15% = waitlist, any schools over 15% = admit, and any schools over 30% = admit with merit money. That was true regardless of whether they both applied to the school or only one did.
We were honestly grateful that both had the same acceptances. We would rather that both twins go to an amazing-if-not-tippy-top school than for one to have ended up where they did and for one to have ended up at a HYPMS.