Ah, now I understand where you're coming from...
Yes - same frequency. The current design assumes a low packet send rate, with plenty of time in between. When two transmitters send at the same time, they will both fail - just as they would when some other non-JeeNode is sending something on 868 MHz. So they must either attempt to re-transmit later, or ignore the failure and try again with new data the next time.
If an acknowledgement is requested and received, then the receiver knows it has successfully sent the data across.
There is no [i]listen-before-send[/i] in the current driver, which would slightly reduce the number of collisions. Nor is there any logic right now to reduce the bandwidth to run a few separate narrow channels next to each other.
The 433/868/915 MHz bands are "ISM" bands, intended for [i]occasional[/i] sending of packets. There is no mechanism to rule out collisions, or even to be certain the radio channel is available and free from interference. That's why it's intended for low-rate signaling, not for continuous streaming.