Nooooo. The double YO is the yarn wrapped around the needle twice, putting 2 loops on it. When you come to it on the next row, drop off one of the loops and knit all the sts in the extra large loop you now have.
You do know that a YO is just a wrap around the needle not wrap and k1? So you don't have a knit stitch between the YO loops.
sue- knitting heretic