It is entirely possible to run multiple Django programs in the same Apache instance. You might want to do this when you are a standalone WEB developer and have multiple different customers.
As long as you use VirtualHost like this, you can achieve:
Namevirtualhost *
ServerName www.example.com # ... SETENV django_settings_module mysite.settings
ServerName www2.example.com # ... SETENV django_settings_module mysite.other_settings
If you need to run two Django programs in the same VirtualHost, you need to pay special attention to ensure that the Mod_python code cache is not messed up. Use the Pythoninterpreter directive to interpret the different instructions separately:
ServerName www.example.com # ...
SetEnv django_settings_module mysite.settings pythoninterpreter mysite
SETENV django_settings_module mysite.other_settings pythoninterpreter mysite_other
The values in this pythoninterpreter are not important, as long as they are different in two location blocks.