Not necessarily.
It was not uncommon in that era (in the U.S., at least) for families to name a later child the same as a previous sibling who died young.
This particular instance is a bit odd, however, because the "married with children" James was born earlier. But it's still not a 'sure thing' that they are the same person.
Also, these two James were added by different people -- yourself and a (possible?) relative. I'd suggest contacting the manager of that other profile to resolve this question.