As long as "words" work, that is fantastic. It can become a balancing act...when to step in when dogs take it to the next level. It sounds like they're working out a system. Let's hope it stays that way...that they keep on working on their "system." LOL.
My two have always been able to work things out very well. First, they rarely have an issue at all in the first place. They're really crazy about each other. But if they do, it's all on Chulita. Jose` is so completely sweet, so soft and meek, and wouldn't dare do anything on purpose to bug her. But if he inadvertently steps too close to her when she's lying comfortably and afraid she might get stepped on... or gets too close to a bone, even though he has no thought in his head of trying to get it from her, she will
sometimes snarl at him. And he invariably gets away further from her, then all is well. Neither of them ever dream of taking something from the other and show no real competition between them.
The only time I've seen Jose` growl at another dog is when he's guarding "his" Dremel.
The other dog (s) (Chulita or Toker) have no interest whatsoever in getting the Dremel, but if it's on a low table or on the floor, he'll lie by it and woe to the dog who comes too close. That's the only "possession" he really worries about. LOL.
So, here's to your dogs' continued success at working out a civilized, conversational solution to all their future disagreements.