This is how I understand it: on power supply two, get the white/grey wire (mine has both?!?) and a black wire (ground) and solder them together. Use shrink wrap to insulate them. Now, you take your green wire from ps2 and splice it together with the green wire on ps1. Do the same for the ground wire. You can probably just strip the wires on ps1 and solder them together with the wires from ps2. But it'll look a lot better using molex connectors. I've kinda given up on adding one though, because my brother's power supply is getting screwy so I'm giving him my old one.
So, in essence, you have the green wires from both power supplies and a ground wire from both plugged in to the motherboard.