That makes sense to a certain extent but a good anti-virus program will keep the pattern files encrypted on disk and will only decrypt the ones it needs in memory and crean up after itself when it's done.
If the program doesn't do that then it will leave pieces of the pattern file all over the place - in the disk cache in memory, in virtual memory, in pages that get paged in and out, etc. In that case, any other virus scanner or even the same virus scanner will trip on the next memory scan and report all kinds of infection regardless of whether it runs with the online scan or much later. I suspect this is the case with Panda's anti-virus.
I know I don't need to "double scan" my system. That wasn't my intention. I just think it's a bonus - if unintended - that my system gets scanned against two separate pattern files when I run the online scan.
The fact that Windows98 stops mid scan on Trend Micro could be due to several unrelated reasons the main one being that it is obsolete.