Intuitively, it seems entirely possible.
The "shape" of the air current blown out by both fans looks like a hollow cylinder, since the air is blown at high velocity near the ends of the blades, and lower velocity towards the center.
If you put two of these fans facing each other, the two "cylinders" of air current will collide with each other and create a "toroid" of positive pressure, in which you can suspend a light object, which is exactly what's observed in the video.
The "pressure toroid" is probably not stable (the slightest random motion of the object will lead to faster and faster motion out of the toroid), and this is also observed in the video.
I would assume that both fans should be spinning at equal RPM, if we want the point of equilibrium to be in the midpoint between the fans.