Importing two.py into the local name space of one.py makes objects from two.py available inside one.py.
But this does not mean that it also works the other way around. two.py still doesn't know about objects from one.py (like [i]variable[i]).
It is probably possible to do with some 'python trick', but then two.py will depend on one.py. This is not what people want generally, because then doesn't make sense to have seperate modules in the first place.
Or, purhaps this was what you were looking for?
variable = "value"
from two import *
if __name__ == '__main__': print_value(variable)