Very good question Wayne. We get this often so let me try and answer it generally for anyone else in a similar scenario:
If you have a good RF line of sight then the 2nd antenna usually doesn't do much and as such is not needed. It all depends on your resulting SNR at the modem input (and by SNR here we mean Signal to Noise plus Interference ratio). If you do have a 2nd antenna then you would want to point it in a different direction to capture a signal that is uncorrelated to the first one. The more uncorrelated the two antennas are the better MIMO works ... in fact one of the most surprising results from MIMO research 10-odd years ago was this very thing that the more multipath a channel had the better!!! (of course LOS is still king

)
At the risk of being too technical and being careful not to butcher the underlying signal processing details which can be quite intricate ...
MIMO in the simplest sense creates multiple parallel RF paths from the Transmit antenna to the Receive antenna. The idea is that you can carry independent data in these paths hence adding channel capacity -- more throughput. In actuality however it creates a matrix channel. For example a 2x2 MIMO system with 2 transmit antennas and 2 receive antennas has 4 paths (picture a 2x2 Matrix).
....TX1 --- RX1....
........ \...../........
.......... \./..........
.......... /.\..........
........ /.....\........
....TX2 --- RX2....
TX = Transmit Antenna
RX = Receive Antenna
MIMO is quite different from antenna diversity that is found in many radios such as 802.11b/g radios that have 2 antennas. In this case the receiver is using the multiple Rx signals usually from a single transmit antenna and combining them (different ways to combine them) to obtain better SNR. In MIMO you actually use the spatial domain (space) to code the data (in addition to time domain which is far more common) therefore taking advantage of the fact that the transmit signals from the different antennas will follow different paths, have different delays and be distorted differently.
The resulting conclusion is that the more uncorrelated the MIMO channel is (the higher the rank of the channel matrix) the higher the MIMO gain. This somewhat explains why if you had a single high gain, high directivity indoor antenna performance might actually be worse than if you had dual lower gain, lower directivity (or omnidirectional) antennas. This also explains why in the beginning i said if you have a 2nd antenna orient it different from the first to allow it to capture an different signal altogether.
Finally a minor point often overlooked, recall that dB is a logarithmic scale.
So the 11dB difference between a 16dBi antenna and the factory 5dBi is ~12x. Power doubled every 3dB.
So your absolutely right, even taking into account losses, this is way more than double the power. But as with everything in life too much of anything is not good. Too much input power will cause bad things to happen (input compression, clipping, desensitization of adjacent radios, dynamic range issues, provider mad at you .....etc)

.... so for those of you out there blessed with $$ to burn, if your RSS (Received Signal Strength) is already good but need more throughput consider getting another modem and a
MultiWAN link aggregation router instead.