I can just answer with my opinion and feelings:
I donated to both, because I find both very important.
From a logical point of view, I find the licensing situation a lot more important. This endangers the whole knowledge we, as a community, created, and are creating. It could mean that no one except Stack Exchange is allowed to use the content we create. It could mean, that the promise that everything we create is open is void. There was always the sort of last resort -- that if they totally mess up, at least we can take the content we create and move somewhere else. This could be illegal now, and that's really really bad.
But on the other hand, Monica is an actual human being who is hurt by the actions of Stack Exchange. I can empathize with her. If I would be in her position, I'd be very hurt. I don't want her to be hurt. On an emotional level, that of course feels a lot more important. I can understand, that this is a cause where more feelings are involved and those in general attract more donations.
Also there is not one single person that's the center of the illegal licence change. Everyone of us is concerned by it. I feel some anger about the licence change and really want it to be clarified/solved in one way or another. But I don't feel hurt about it.