I-70xx uses only straight ASCII command without error checking. If you use READMODBUS and WRITEMODBUS RTU commands you are sending binary Modbus protocol via the network and there will be binary modbus data that the I-70xx could interpret as command for itself (wrongly, of course) and therefore lead to unknown consequence.
If you must use them together this way, you may be better off using the NETCMD$ command to communicate between the PLCs, or use the MODBUS ASCII command so that there is no binary data that could corrupt the I-70xx.
One possibility you can try is to run the I-70xx and the PLC in different baud rate. Then you must use the SETBAUD command to change the baud rate every time you switch communicating from one device to another.
But we would like to state again that communicating over the same bus using two different protocols is NOT recommended, but you can try it if you must and check if it can work for you.