Yes. The PCI-DIO-32HS has a double set of lines for handshaking and pattern generation, meaning that you can connect to 2 different devices using handshaking and communicate with both at the same time. If you are only using one peripheral device, this device must supply seperate handshaking lines for both the input and output, as well as seperate digital lines for the input and output (the digital lines are not bidirectional in handshaking mode).
A useful reference for the 653X boards is the new user manual, available at www.ni.com/manuals. Also see the support pages for the board at www.ni.com/support.