Ok little research yielded some more insight. Planets would be tidally locked with the same hemisphere facing each other. Due to gravity massive oceans would be on the hemispheres facing each other, depending on mass, and the distance between them they may be distorted and egg shaped. They would orbit on a horizontal plane, and more than likely this orbit around a central point would replace the rotation of the planets to induce a day/night cycle. I'm still not sure how a moon(s) would work in this arrangement though?