I think when he says "second story" he means "second book", though I can't be positive because I'm not in-tune with what he's thinking all the time. lol.
I believe he knows how he wants the first book to go, where it'll end, and how the second book will go. Also, how important each character will be in each book.
I don't know what he's titling it, but he probably told me and I forgot. lol.
I'm not trying to speak for him though. I'm just giving my guess since I'm always online so I answer before he does, so this way you have something to look at while waiting for his response.
Edit: Oh wait...title is in the first post... "MY NEWEST PROJECT "THE KIN CHRONICLES"".
I would think that for each book it will be 'The Kin Chronicles: [insert second title here]', where the second title will describe what that part involves.
But this is just another one of my guesses.