I'd expect it to probably be less effective and less efficient than a centre tap plus single choke one, but otherwise operate in a fairly similar way.
The choke / chokes are AC limiting and commutation; in this version at least each has an alternating voltage across it once oscillation starts, so saturation should not be as bad.
If you think about it, until the centre tap version starts oscillating [assuming it does] the current is divided both ways from the centre tap to the two sides of the oscillator.
I don't trust any of that general style to work really well, as both FETs will be partly on at each changeover, so taking more current than needed. That's why the choke is there, to limit the power dissipation during the brief crossover current spikes.