It'd be easier to tell you if you told us what your fields are set up as... so I'll just make an assumption that you have two custom fields: Product Edition A and Production Edition B and each are checkboxes, with either true or false values.
So in your smart list, you'd add each field to the list of filters and set each to "is TRUE"
By default, the filter logic of a smart list is set to "ALL" so that's all you'd need to do for it to list everyone that you want to exclude.
Now, when you create your email program (I assume that's what you're doing), add a filter for "Member of Smart List IS NOT" and use the exclusion list you created previously.