I believe the ballasts will drive:
2-54W T5 Bulbs (that's 48" bulbs, right?)

(yes)

Here's my issue, BOTH bulbs went out.
1 bulb burned up! Glass broke, ends turned black and 1 endcap has melted over the bulb and looks like it might even had some flames. It's really scary looking. The other bulb does not light and the ends turned black. Remember the ballasts are wired independently so I'm not sure why both bulbs are out. Coincidence maybe?

when end caps go i have heard of them taking the bulbs with them and starting fires .....

also some ballast want both bulbs hooked up in order to run ....

if you want to make a cheap end cap buy some of those yellow but clip from the auto store/Lowe's/ HD open them up with a flat head and they fit the ends bulbs nicely and cost 2$ for like 20

were you located ?