Another 4051 demux Question

OK, so in this http://www.arduino.cc/cgi-bin/yabb2/YaBB.pl?num=1283558633 forum I was able to get the keypad working but I had to use 8 digital pins. Is there a way to use a a single 4051 and my 4*4 keypad together? I guess what I am really asking is can the 4051 read 2 pins at the same time? I could have the rows on my keypad be y0-y3 and my columns be y4-y7. I'm pretty sure the 4051 can only read one input at a time but I just want to check.

You should be pretty sure! Note that it also would not help to use a 4052.