For load balancing I would consider this very likely because both are equally loaded. But "failover" I would usually consider a scenario where a second server is purely in wait for the primary to fail, in which case it would be virtually unused. Like an active/passive scenario as someone mentioned below.
But perhaps I got my terminology mixed up. I'm not working with servers so much anymore.
You know how they say to always test your backups? Always test your failover too.