I have given this a shot by placing the library on our NAS and accessing the library from both my wife's and I PC. All the settings [including renaming pre-sets etc] transfer over. The only issue is that the library gets 'locked', supposedly by the first PC that opens the library.
I got around this long ago - by placing our media in a central location (Windows Server), having the HTPC act as the "media server" and then have all the client PCs in the house connect to the Library Server exclusively - save one. That takes care of anyone wanting to play stuff while I am editing.
To maintain the actual content - I use a separate install of MC (with it's own library) on my workstation PC - but it points to the master media in the server. This is where I get to play "library custodian" and do all the ripping, tagging, moving, analyzing etc etc. All media that makes it to the master library goes thru my machine first. And because it's isolated and most importantly - NOT a client to the Media server running on the HTPC - there is never any contention.
I can do my thing while the HTPC does it's thing. I can be ripping and tagging and editing in my office - while my wife can be listening to music in hers (Via HTPC server) and my son could be watching The Lego Movie on the big screen (Via HTPC library server). No one is bothered by any of the other activities going on.
I make big time use of the Rename, Copy and Move toolset to "place" new adds out on the server in real time. Then when the HTPC - which uses Auto import to "watching" the server paths - simply brings in new content as it appears on the server.
And because my PC stands alone - I can have my own custom playlists, views and other things that benefit the "editor" in me - while the HTPC library has more standard "family" centric views, playlists etc.
I would not have it any other way.
Cheers!
VP