parachute requirement has nothing to do with wether the airplane is certified in the Aerobatic category
Second, a student is not a required crewmember regardless of their certificate or ratings unless the operation or aircraft type requires two pilots. Just because both pilots can log PIC time doesnt mean both are required crewmembers.
So if one CFI is teaching acro to another CFI parachutes are required.
About the only times a parachute is not required would be if you are flying solo, giving spin training for the CFI or during a flight test. Reference 91,307.
Flydog is correct. In this case, it appears the attempted loophole is the giving of instruction. However, this only applies to required instruction. If spins are being conducted for the purposes of meeting the initial flight instructor certification, this is the only time that a certificate or rating requires anything remotely aerobatic. If two flight instructors are present, both have had the requisite spin training, and the instruction is no longer required. Loophole closed.
Aside from that, two certificated instructions ought to know better.
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