To clarify, this is for a product where I write the code running on the board controller, including talking to the two (Si5351 clock generator) chips. I would use a controller I/O pin to control the mux.
That mux I mentioned has worst-case channel resistance of 30 Ohms, and compared to the typical I2C pull-up resistors seems like not much of an issue. There will only be the controller, mux, and the two clock-generators on the I2C bus, and the traces will be short, so the capacitance should be minimal. I can put a strong pull-up at the controller end, and much weaker pullups at the slave device ends.
You can use an analog switch (like the 74HC(T)4067 for 16 channels) in the SDA line.
When looking at the I2C spec, it seemed that because of potential clock-stretching (where the slave holds the clock line low) I would need bidirectional muxes on both SDA and SCL. Is this not necessary? Actually, I suppose not, since the unselected device will never see the SDA transitions and so never try to stretch the clock. Correct?