The braided shield is normally connected to ground, but can be used as a signal conductor instead. This is often done in microwave communication applications and is called a balanced signal, or sometimes also called differential signalling. In theory using the two coax should work. However, the four-wire twisted pair of Cat5 helps protect the individual signals from external interference. That protection might be degraded if you split the four signals between two coax cables. You might not be able to operate reliably at 100 Mbps.

I work at a national lab. We work with large number of students every summer. Some are smart, some are very weird, some are nice, some are not. Guess who gets to come back next summer? The smart ones who come to work every day and are productive. Nice doesn't work. I've worked with some stupid nice students, and all I do is damage control.

Satellites are becoming smaller and cheaper because of advances in miniature high-performance computers, solar panels, batteries, and increased launch capabilities due to standardization. CubeSats are one example. People can put small, but high-resolution cameras into space, and if you can launch 100 pico-satellites with cameras then your going to get near real-time imagery of many places on the earth. Its only a matter of time until even the poorest third-world country gets its own fleet of spy satellites.