Not an ME, but there seems to be some confusion between shear stress (in any given component) and the use of the word 'shear' to describe a joint in the fewest words.
Shear, meaning the amount of force trying to cut a plane through the cross section of a part ÷ the cross sectional area of that part through that plane isn't really the concern.
What is, is the bending moments that also result, and those are what will result in a fatigue failure if the part is going to fail at all.
Understand that single shear is structurally a cantilever beam analysis, which will result in the maximum possible bending at the fixed end of the bolt/stud/tube/stand . . . and the largest bending stress and the greatest rate of accumulating fatigue damage. Structurally this isn't the best solution, but it can be used in safety provided that sufficient margin is built in to the design.
Double shear splits the applied force - and not always in a 50-50 distribution like you might first think even if the pin is loaded right in the middle of its span between what constitutes its bracket (I'll get back to that later). But the maximum bending moment at the threaded end of a bolt or the boss that it is threaded into is considerably less than it would be if a second shear plane (out there just inside the bridge on a Watts link propeller pivot point) isn't present. Worst case, if one side of a double shear connection failed, you'd still have whatever resistance the remaining side could muster (and probably a little advance warning that something was seriously amiss back there).
A little reduction can go a long ways. I'm mostly retired now, but within the industry I spent most of the past 35 years in, the commonly used relation between stress and fatigue life was "inverse 5th power". Basically, that says if you double the alternating stress (think left to right turn loading), the fatigue life drops to less than 5% (3.13% to be mathematically precise). Stated another way, halving the stress if you could attain truly equal shear sharing would net you 32 times the fatigue life of the single shear arrangement.
Other industries may use a less conservative approach than we did in powerplant situations (including nuclear), but I don't think you'll find fatigue life estimates taken as anything less than an inverse cube function of stress (that'd be 12.5% life for a doubled stress, or 8 times the life if stress is halved). And in truth, this relation is not fixed. From known fatigue data, the exponent varies considerably, and IIRC generally in the 3rd to 5th power range.
In some other post I mentioned only a little earlier this morning that the load (shear force) distribution in the pictured Watts link would not be 50-50 like you might think. That is because the load path directly into the diff housing will deflect only as much as the bolt or central pin will deform in shear. The path through the bridge, on the other hand, will add at least the bending and shear deflections of the stands to pin shear deflection on the bridge side of the propeller. Since load divides in proportion to the stiffness of the load paths involved, the bridge path won't actually carry 50%.
There isn't really enough information to say how it divides without making a lot of assumptions, but let's just say that only 10% of the lateral load goes through the bridge. That puts 90% still going directly to the diff housing. Rather than waste time arguing whether inverse 5th or inverse 3rd is appropriate, let's just use inverse 4th power. That 90% stress then corresponds to about 52% greater fatigue life. At an 80/20 load split, fatigue life goes up nearly 4 times (3.85-ish).
Norm