I appreciate the answers guys, and when I said they are both in the same drive, I meant the physical drive mostly because clearly, I will have to create separate partitions in order to make the dual booting works.
So there is your answer... for all intents and purposes, both of the OSes won't even know the other one exists (ignoring mounting of foreign partitions etc)...So, just like the OSes, while both of your Electrum installations will be on the same physical disk, they'll be residing on separate partitions... and won't know the other installation exists.
UNLESS, you specifically set it up so that your wallet.dat lives on a common partition... in which case you could access the same wallet from either OS.
