Is it possible to run a Buffalo Tech Drivestation simultaneously on two computers.?

Answer 1

Yes, if they (the 2 PCs) are both connected to a router.
Connect the hard drive to one PC, and share it over the network.

To do this in Windows XP, connect the hard drive to your desktop.
In My Computer, right click on the drive and choose Properties. Click the link about risks to show the options.
Check "Share this folder on the network" and "Allow network users to change my files," give the drive a name (something easily recognizable, like 'USB Drive'), and click OK.

regards,
Philip T