RE: yup...
No rumbling here. My confusion was cleared up. I think ida34 is very correct with his initial assesment. Although I am glad to hear he can see how the system can be mis-leading...
I just could not see the circuit until I drew it out. I blame that on my familiarity with the 200-amp system. I am way more familiar with the M1010 system than most would care to be. It uses 24V alternators and has it's own problems and was clouding my brain...
On this system, I know if you check voltage from the output of the right alternator to chassis ground, you will see 28V, but that is mis-leading, because, as you pointed out, the right alternator does not see chassis ground because it's ground is isolated and hooked to the negative of the rear battery, while it's positive is hooked the positive of the rear battery. That is it's circuit. Technically, it is charging 14.4 volts to the rear battery as you point out, because the negative of the 24V system does not exist in it's circuit. The negative of the right alternator being tied to the 12V junction is mis-leading because that's where the positive 12V is pulled from to power the other stuff. But, it's also the negative of the rear battery. And, it also happens to be where the left alternator charges the front battery. But, that ground isolation is really the key. The right alternator only knows about the rear batteries positive and negative, not the front batteries negatve, so it really is only charging 14.4 to that circuit. The left alternator knows about the positive of the front battery and chassis ground, which is the negative of the front battrery. That is it's circuit.
I don't think you will find anything different, but please post here if you do. As of now I can't see it any other way but as 2 separate systems, so if you find something different about the grounding, you'll have to convince me back over to the other side in another thread...