Hey Sidd,
For an IMAQ board, there is only one time source on board. This is not something that you can specify like you would with a DAQ device. So, if you simply create two pulses (as is done in the example VI that you pointed out) in two threads, you will be able to create two pulse trains that use the same clock source. They will hence be synchronize in the sense that they will be using the same time base. However, on the IMAQ device, there is no functionality to trigger the start of the pulse train to insure that the two pulses (one going 5 times faster than the other) will switch on the same pulse of the clock. After doing some testing, I found that the two pulses were consistently switching at the same time. However, they are not explicitly controlled to do so.
If it is absolutely critical to insure that the two pulses switch at exactly the same instant, it may be a better idea to use a counter timer device to generate the two pulses. However, generating the two pulses by simply running the example code you pointed out earlier will generate two pulses at your two frequencies; using the same clock source.