Thanks everyone for your replies... But there is something I would like to clarify..
Connect one to the Guitar input (assign as Input 1) and the other to Aux (assign as Input 2).
I would assume that the above mentioned is in a scenario where you have 2 guitars to be used on the POD, right? My apologies for not being clear on that. The reason why I asked is to have our 2nd guitar player connect to the L3T. That is for us to have a very lightweight setup and to have good sound on our guitars and vocals (drums and bass got good speakers/amps so they're okay). Guitar amps on the clubs we are playing are crap.
So, would it still be possible if he connects to the input 2 on the side panel mixer (with me on L6 link and the mic on input 1)? Or will it work by setting up a dual path and have the other guitar player plug his out to my aux and assign it as input 2 (both guitars via L6 link)? - not sure if I am making sense here..
By the way I am using two amps on my HD500, not sure if this affects the dual path you told me about.
Again, thanks for your inputs.