  We study the rotational (yrast) spectra of dilute two-component atomic Bose
gases in the low angular momentum regime, assuming equal interspecies and
intraspecies interaction. Our analysis employs the composite fermion (CF)
approach including a pseudospin degree of freedom. While the CF approach is not
{\it a priori} expected to work well in this angular momentum regime, we show
that composite fermion diagonalization gives remarkably accurate approximations
to low energy states in the spectra. For angular momenta $0 < L < M$ (where $N$
and $M$ denote the numbers of particles of the two species, and $M \geq N$), we
find that the CF states span the full Hilbert space and provide a convenient
set of basis states which, by construction, are eigenstates of the symmetries
of the Hamiltonian. Within this CF basis, we identify a subset of the basis
states with the lowest $\Lambda$-level kinetic energy. Diagonalization within
this significally smaller subspace constitutes a major computational
simplification and provides very close approximations to ground states and a
number of low-lying states within each pseudospin and angular momentum channel.
