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Can the cable signal go up the other side of the combiner(and vice versa I suppose) and actually "broadcast" or am I concerned over nothing?
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No, that is exactly what you must be concerned with. If you inadvertently re-broadcast cable signals via your antenna by merging them, you will be broadcasting on frequencies reserved for other licensed services including aircraft, police, and other public safety services. Once discovered, you will be held accountable for any interference.
Use an A-B switch to prevent problems. Radio Shack stores have been closing out their remote-controlled switches for under $10.