At the switch in the your original Timeguard picture, if you look at the taped up wires, you have a twin cable with red and black, and a cable with just a red.
To confirm, is the single red and the black from the twin cable joined together?
If so, on one side of your new 2 gang switch, the single red goes to common, and the red and black from the twin cable go to the remaining terminals, probably marked up as L1 and L2.
Markings vary.
On the other side of your new 2 gang switch, for the Timeguard, the red goes in the common, and the black in L1.