If you are charged with two misdemeanors and receive probation for one in a plea bargain can the probation be revoked as a result of the decision on the second charge?

Yes they can because you have two charges against you and each one has to be handled in court separately. The judge will look at the person before him and if it is a first misdemeanor offence will generally go easy on that person, but two is getting up there and it appears that person has not learned their lesson. Laws are for a reason and without them people get out of control.

Technically, yes.

It is highly unlikely that would happen if the misdemeanor convictions were concurrent.

On the other hand if the second offense was committed while the person was on probation, the person will be required to serve the original sentence that was suspended in lieu of probation as well as any sentence resulting from a second conviction.