Is it available on all modes including Co-op vs AI, all champions, and or on Summoner's Rift? I added it on my item list (on the client) but did not find it during the match.
Painted Celt1 votesIt is not available on the rift. I believe it is specifically only available for Howling Abyss, but I could be mistaken. It may also be available on Twisted Treeline.
Its equivalent item in Summoner's Rift is Warmog's 
. Warmog's was considered to give too much sustain in other game modes, so it was replaced with Overlord's.
Malfini2 votesThank you for the info. Either that info is not on the item flavor text or I just missed it.
Does 's +850 health doubles if there are 2 ?
Painted Celt1 votesNo problem.
Yes, the +850 health will stack to +1700 if you have two. The +200% base health regeneration will also stack to 400%.
However, the Warmog's Heart health regeneration passive will not stack twice. For that reason, you will probably be better off getting something else than a second Warmog's. For example, 
works very well with since it gives you more health to work with Warmog's passive, magic resistance to make that health more valuable VS magic damage, and Spirit Visage's passive +20% from all healing sources will work with both Warmog's Heart passive and your base health regeneration for a significant boost in your healing rate. Warmog's and Spirit Visage have almost identical prices by the way (Warmog's is just 50g more)
Here is a side-by-side comparison:
+
+1700 HP
+400% Base Health Regeneration [500% total when including original base]
Passive - Warmog's Heart: Restores 15% of your maximum health every 5 seconds.
[Assuming you have 2,000 HP + 1,700 for 3,700 total, that's 555 HP per 5 seconds from Warmog's Heart.]
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+
+1350 HP
+350% Base Health Regeneration [540% total when including original base + passive]
+70 Magic Resistance
+10% Cooldown Reduction
Passive - Warmog's Heart: Restores 15% of your maximum health every 5 seconds.
Passive (): Increases all healing (from any source) by 20%.
[Assuming you have 2,000 HP + 1,350 for 3,350 total, that's 502.5 HP per 5 seconds, increased by another 20% by for an actual rate of 603 HP per 5 seconds.]
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I think you clearly get a lot more from the second option. That's a decent increase in healing by adding a Spirit Visage and the difference gets even bigger if you add more health/regeneration to your build. For example, add another 650 hp from a 
and the double Warmog's restores 652.5 HP per 5 seconds while the Warmog's + Spirit Visage would be healing 720 HP per 5 seconds.
Spirit Visage also increases healing from things like Lifestealing and even boosts heals on you from champions like 
. The 70 Magic Resistance is huge, since the way that resistances work that comes out like having 70% more health versus magic damage. The 10% CDR is helpful too of course as long as you don't already have the 40% CDR cap reached from other sources.