on a local network, the XAMMP installation will have to reside (or start really) from one machine with a static address on your network (say 192.168.1.5)
As to installing XAMMP to the shared network drive, you can do that. Its not neccessry if you only want to access the files through a browser. (use the webserver). you'll be able to do that by using that fixed IP in a browser anywhere on your network. (point the browser to 192.168.1.5)
If you want to be able to easily edit the files and work the configuration, start/restart services from all your machines, you should map the same drive letter to the shared drive where XAMPP is installed. (or use the portable version of XAMPP - there are a few limitations). Note: doing this will mean that in order to access XAMMP from other machines, you'll need to keep track of the IP's of the different workstations it runs from.
I hope this helps --