If I have two figures who each have outwit, and an opposing character in line of fire and range to each of them, could I use outwit with my first and second character to counter the same power on the opposing character?

You cannot.

More in a minute.

No. When a power or ability is countered the character no longer possesses that power or ability. So there wouldn't be anything(except for other power or abilities) for the second character to counter.

Rulebook page 18

Meh, mirandir got it.

That makes sense. Whenever I read that rule I mistakenly thought of it only as it wasn't there for me to use if that power was countered. I read it to quickly. Thanks.

I had a game that drug on and on forever and ever... because we kept outwitting each others outwit. If I could have countered his power doubly so, then even if he outwitted one the other would still hold me up... ya know like wearing a belt AND suspenders to keep your pants up.

To quote a great movie,
That's all I wanted to add to this discussion.