i've never flown a twin...do these planes usually have Vmc a lot higher than Vy?
I can't think of any airplane that has a Vmc greater than Vy. They're usually a comfortable distance apart (larger than 10kt window) but some airplanes they can get pretty tight.
In light twins (piston/ light turboprop) you have a red line and a blue line. Red line is the published Vmc. This value is the 'worst case' Vmc. All the items that the factory are required to meet (i.e. gear up, flaps takeoff, max sea level power on good engine etc etc...) are in this configuration.
Blue line is the best rate of climb on 1 engine.
Vy (two engine best rate) isn't listed on the airpseed indicator but is usually greater than but sometimes equal to blueline.
In jets you have V1, VR, V2, Venr (a cessna thing...if you've never flown a citation you probably haven't heard of it. Why? beats me.)
V1 = takeoff decision speed. Vmc by definition is less than this speed because at V1 you can either takeoff or land in the remaining runway based on altitude/temperature/weight/power setting.
Vr = rotation speed...duuuuuuuuh.
V2 = basically Vxse. Essentially the best angle of climb on 1 engine.
Venr = enroute climb on 1 engine. Pretty much the best rate on the single engine, or Vyse. In the Encore/Ultra it's 160kts all the time. In Citation II's it varies from 130's to 150's.