[Crosshairs]

That's an odd color for an 02 sensor..are you using a fuel additive ?
but to answer your question, yes a bad 02 sensor can cause that code, but both left and right sensors being bad is not likely

 

[Crosshairs]

It cant hurt to replace both sensors first , because even if you do end up replacing the cats, it's a good idea to replace them at that time

Also, air leaks can cause those codes, so make sure you dont have any leaks and be sure the upstream 02 sensors are tight if they were removed .

 

[Crosshairs]

Will check the upstream sensors as well. The 1/1 is kind of tough to get to. Has lots of hoses and wires around it. I may remove the 2/1 sensor to check it out and try to see something inside the cat at that point. I dont believe I have air leaks anywhere in the system. How can I check that without major disassembly?

A smoke test is the best way, but I doubt you have a smoke machine..

Other than that, a quick and dirty way is to look for soot marks around the joints or have someone block the tail pipes while its idling and listen for air leaks