I am VERY loathe to call this telepathy, it seems to be a very innacurate way of describing what is a sharing of neural tissue. Just because they only share a hypothalamus (or is it thalamus, been a while since I read the article) does not mean that routed through that they do not have a great deal of neural connectivity. Telepathy refers to something entirely different, which is connectivity of thoughts without any shared tissue/conjunction. Telepathy is, as far as we know, a supernatural/preternatural phenomenon and consequentially does not exist. Given just how essential the tissues they share are, and how closely situated they are to things like the Optic Chiasm (in the Tectum) and the cerebrum, I'm not surprised that as a stable pair of cephalically joined twins they can share thoughts and visual data. (For reference, we refer to the 5 major areas of the brain, developmentally, as the myencephalon [Medulla Oblongata], metencephalon [Pons and Cerebellum], mesencephalon [Tectum], dienecephalon [Epithalamus, Hypothalamus, Thalamus] and the telencephalon [Cerebrum, hippocampus and the olfactory lobes], moving from the spine upwards. This should demonstrate that the whole sharing thoughts/visual data has the 'sites' in the brain situated around where they are actually physically joined)
There might be ways to 'fake' it using technology later on, and perhaps it may exist in the natural biology of some organisms somewhere in this vast universe, but as far as we (biologists, and I say this as someone doing his Honours projects on neurobiology, specifically adult neurogenesis in the hypothalamus) know and believe, true telepathy would be impossible.
Edit:
@ Flipside - Yeah, it's data you subconsciously picked up on being sorted by your brain and attempting to push it through to your conscious thought by the manifestation of it as an 'uneasy' feeling. It's a fairly well documented phenomena, but not mystic in any way, shape or form. (Well, except for demonstrating the capacities of the brain). On the note of confirmation bias, well obviously that happens and sometimes your subconscious is very, very wrong. You tend to forget those times and only remember those when it turned out your subconscious was correctly cueing you in on something.