I have two ACT-Labs TV guns working. I enabled lightguns and dual_lightguns in my mame.ini file and everything worked. Make sure you have the slider on the side of the gun on different settings for each gun. I believe the middle slot is player 1 and the slot closest to the barrel is player 2. I'd try it in windows first. Just shoot the desktop and see if the cursor moves. If the cursor moves with both guns, then the guns are working properly and it just a matter of setting up mame.
Just to let you know though, I had to return one of my guns. Whenever I shot one gun, it always registered in the upper left corner. I got an RMA and I had a new gun in less than a week and now both work perfectly.