I just installed Lion on a new partition, and now for some reason when I hold option to select my SL or Lion installation, I have two recovery HD partitions. Shouldn't there just be one, and can I get rid of one?
Lion Recovery isn't specific to an install; it literally just has Disk Utility and the ability to download a new copy of Lion. You can get rid of one of them.
I just installed Lion on a new partition, and now for some reason when I hold option to select my SL or Lion installation, I have two recovery HD partitions. Shouldn't there just be one, and can I get rid of one?
Are the recovery partitions on separate disks? If so, it's no harm to leave them there. They are rather small. And leaves you covered if the disk with Lion on it fails.
However, if you're going to remove one, remove the one from the disk that doesn't have Lion on it.