No. The Hero and Villain accolades can't be active at the same time. When you go Villain, all your hero accolades deactivate and vice versa.
On the plus side, when you go villain you automatically get the corresponding villain accolades to any hero accolades you have without having to get the prerequisite badges for them, so you don't lose anything by switching sides. But no, you cannot double-stack.
Iscariot's Guide to the Tri-Form Warshade, version 2.1
I'm sorry that math > your paranoid delusions, but them's the breaks -- Nethergoat
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Do accolades stack? If I get the hero accolades that boost endurance and HP and then go villain and get those accolades, when I go back to hero will all the accolades stack?
@ThrillKiller