It could be that they mean that the cap for each of the combs is 100%, which would result in the 200% cap total.
Yep, that is right, the first and second chance to get the product are capped individually. And to be absolutely correct, to compute the second production chance, the base chance is halved (and rounded DOWN to the next integer, if the base chance is odd), not the first production chance (which already includes speed and frames). Then of course, it is again multiplied by speed and frames modifiers.
Also, one more note: Normal products have a chance to produce two each bee tick, while specialties will always produce at most one per tick. Royal jelly is NOT a specialty, it is a normal product; this distinction has nothing to do with comb or not comb.
And one final note on bees with different primary and secondary species: The first product will always be from the primary species, the second product (with half the chance) from the secondary species. Specialties can only come from the primary species.
Edit: Still forgot something: In the video you mention using 5 frames in your alveary, to get an 32 times factor for the production chance. Note that while this works, any multipliers over 16 (counting only the frames, not the speed of the bee) will risk the bee becoming ignoble, i.e., they will die eventually. Therefore, one should never use more then four production increasing frames!
