In MMJoy2Setup I don't know. You can map two logical buttons ("joystick") for ON and OFF of physical ON-OFF-ON switch (H/W button), but don't see option for map two physical (H/W button) button (of ON-OFF-ON switch) for the same logical button ("joystick" #3).
But using an keymapper (SVmapper, JoyToKey...) "mapped on press" and "mapped on release" functions is possible.