I have a single phase residential service install with 200 amp meter enclosure fed with #2/0 per T310.15(B)(6). The first panel has dual lugs on the main and feeds an adjacent second panel. Each panel is rated at 200 amps and has a 200 amp main. Calculated load is less than 200 amps. Are the #2/0's compliant?
Basically, you are describing what would be a 400A all-in-one service with two 200A OCP inside.
Granted it is not physically what you have.
I believe that you have to use the 400A when using Table 310.15.B.6.
Of course, you also have the problem that the meter enclosure is not rated for such a load.