I think the Windows is booting to the second installation. The default boot is always to the latest Windows. Further evidence is that you are not getting BSOD or stop error (at least you are not telling us).
Open boot.ini from C: (from Windows Explorer, Tools > Folder Options > View > check on Show hidden files and folders, and uncheck Hide extensions for known file types and Hide protected operating system files) and check which system directory and partition each Windows got installed.
If the second Windows got installed in C:, the system directory would be different from the first one (Winnt or Windows). However, the two Windows would share the same Documents and Settings, and Program Files folders. And if you expand the Documents and Settings folder, you would see all the user profiles from both Windows. Depending on the security settings, no password for a user login, for example, the user?s documents can be seen and accessed.