A point is an object.
A variable can point to objects.
RemoveLocation() removes the object the variable is pointing towards.
In your example both variables are pointing to the same object.
Using RemoveLocation() on either variables will destroy that object, and both variables will now point to a non-existing point object.
Short answer: You will only need to use RemoveLocation() once.
Ghan has said he has fixed this. Monovertex please confirm this fix. This was only a problem with people that had signatures in the upper levels like not the special members but the respected members.