it is generally not recommended to daisy chaing switch(es) off a cisco ip phone.
but to answer your question, yes, a switch plugged into the phone with a PC into the switch will account for two mac addresses.
the switch/port has a mac and the PC nic has a mac.
if connecting another phone to the second switch or daisy chaining phones, use the Forwarding Delay parameter in CCMADMIN.
please see the following link for more info:
http://www.cisco.com/en/US/products/hw/phones/ps379/products_administration_guide_chapter09186a00801ebe70.html