The two planets would each have a ring of land around their 'equator', with a large ocean on the side pointing away from the other planet and another ocean connecting the two planets. Ships could probably be driven up this water bridge to get from one planet to the other.
This would happen due to the effective tides the two planets would apply to one another. The gravity of the other planet would pull one bulge up to what would probably be hundreds of miles in height, but since the planets are closer to this, the ocean would bridge the gap between them. On the opposite side of the planets, the inertia of the two planets spinning around each other would cause a similar bulge, resulting in a deep ocean.
The connective column of water would also be surrounded by enormous storms at all times. Since the planets are tidally locked, and orbiting extremely rapidly (given the low orbit altitude), the coriolis forces would be huge, and drive similarly huge storms, which would expand under the low gravity as the approached the connection point and then crash into each other, since they'd approach the connection point from opposite directions. (Storms on both planets would move in the same angular direction, clockwise or counter-clockwise, since the tidal lock effectively 'spins' both planets the same way).
Assuming the planets were both in the plane of the sun, the mega-ocean on the far side would spawn these storms, which would then tear across the land on the windward side of the ocean before hitting the connection point. The habitable portions of the planets would be towards the poles and on the leeward side of the far oceans.
This is all under the assumption that the planets won't warp under each other's gravity. They're well within the Roche limit for each other so tidal effects would normally rip the planets apart. We'll chalk that up to alien magic as well.
