Scoreboard project: Cascading shift registers

I am building a scoreboard for my ultimate frisbee games. It will be two teams, two digits each (using 12V LED strip lights). I am using an arduino mega. I was wondering if there would be any advantage or disadvantage to different cascading strategies. For instance, I could cascade all of the shift registers, and then multiply one team's score by 100 and then add it to the other team and then display that. Or I could have one pair of shift registers for each team. Of course, I will need more wires coming off of the arduino, but that really won't be a problem. I'm using a cat5 to connect the arduino and the display, and I have unused wires. I was just wondering if there were any other concerns. Perhaps I am reaching an upper limit of the number of cascaded shift registers if I join all four???

Anyway, if I do decide to go with two pairs, is there any problem with using one arduino pin for the clock signal for both teams? Or do I need to have separate clock signals/pins for each team?

You can use the one clock for two shift registers and latch them separately. As you feed them one byte at a time there is no need to multiply anything by anything. Just feed the first two bytes for one score and the second two bytes for the other.