Notes:
If you are dividing with faces, you can only select one object to divide.
The dividing faces can also be part of open or closed objects. See Cutting an Object by Faces of Objects.
When dividing by more than one face, all selected faces must be part of a continuous object. Individual faces can be made continuous by using the Faces / Stitch function.
Required Step 1 
Select one object (open or closed) to be cut. In this case, select the magenta object. Press exit when the object is selected.
Required Step 2
Pick several faces as the cutting tools, in this case the top and bottom blue faces. (You can use the Selection Filter to enable you to select faces.)
Important: When selecting more than one face, all selected faces must be part of a continuous object. In this example, the faces were created separately but joined using the Faces / Stitch function.
A blue arrow appears on the first face you select. The arrow direction indicates the side that will be cut. You can flip the direction by clicking the arrow. Press exit when the faces are selected and the direction is correct.
Press OK 
or Apply 
in the Feature
Guide to complete the function.
The top and bottom sections of the object were both cut, since they are both located on the same side (outside) of the cutting faces.
When completed, the Cut appears in the Feature Tree as follows:
