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Many users have had success viewing multiple cameras on the same computer by running multiple instances of iCamSource.To do that on a Mac, you'll need to make a copy of the iCamSource application for each camera. First, run the first iCamSource and set up the first camera. Then run the second copy of iCamSource and set up the second camera. Make sure that all instances of iCamSource have the exact same login and password entered.
Are you running the latest version of the iCamSource, 1.3? It should keep track of the login, password, and network camera URL for each application path. (If you rename the application then you will have to re-enter that information.)