1) Yes. We can add second IP helper as DHCP server.
2) If have 2 IP helper addresses configured under vlan interface at the same time, DHCP broadcast will be relayed to both the DHCP servers. Client will accept the DHCP OFFER from the server which responds first.
3) As both the DHCP servers are using the same IP address range, they will not be aware of the IP addresses leased out from each other. In case one of the servers leases out an IP address which is already leased out from the 2nd DHCP server to a different client, it becomes clients responsibility to send a gratuitous ARP to ensure that IP address assigned to it is not being used.
4) If by any chance, gratuitous ARP is unable to update the ARP tables for other clients, there could be IP address conflicts on the network.
5) I will suggest to have a split scope on the DHCP servers as it is difficult to solely rely on client. Otherwise, configure the 2nd IP helper address once the 1st server goes down.