Context 08:18 Mar 10
As has been mentioned below, more context would help.
In particualr, clarification of the odd way it is worded: normally, one mlight expect to read "two coats of grey woodstain were applied" (usually, to get the colour deep enough) — the use of '2-coat' does seem to suggest it is a type of paint that has 2 components, as Rokotas has mentioned in connection with car paints. I haven't heard of this kind of thing either, but it may exist (cf. some of the 2-component epoxy finishes that exist)
Personally, I suspect it is just someone writing badly — probably seeking to make it sound more 'formal', but failing miserably! | 
The translation workplace 
peer agreement (net): +1
