Are you able to use classes from one college to satisfy the requirements of the other college? For example, if you meet all the liberal arts requirements in one college I expect that they will count towards the other degree right? The fact that you cannot call it a double major is merely a technicality is it not (Although in my mind it is still a double major)? What does it matter if they are not issued by the same college? I still don't see the difference. At the end of the day you have two degrees.
Well, it is a bit of technicality I guess, but you're not getting two degrees with a double major. You're getting one degree with two majors (at least as far as I understand it). Getting a dual degree is actually getting two separate degrees. And there's a bunch of bureaucratic stuff you need to push through to get approved for a dual degree here (more than there would be for double majoring with two majors within one college).
As far as I know the requirements would count towards both degrees, though.