When a target appears in multiple rules, all the rules must be the same type: all ordinary, or all double-colon. If they are double-colon, each of them is independent of the others. Each double-colon rule’s commands are executed if the target is older than any dependencies of that rule. This can result in executing none, any, or all of the double-colon rules.
Double-colon rules with the same target are in fact completely separate from one another. Each double-colon rule is processed individually, just as rules with different targets are processed.
The double-colon rules for a target are executed in the order they appear in the makefile. However, the cases where double-colon rules really make sense are those where the order of executing the commands would not matter.
Double-colon rules are somewhat obscure and not often very useful; they provide a mechanism for cases in which the method used to update a target differs depending on which dependency files caused the update, and such cases are rare.
Each double-colon rule should specify commands; if it does not, an implicit rule will be used if one applies. See Using implicit rules.