Providing your networking is setup correctly it should work perfectly in most cases. The only exception to this may be SoftICE as it runs at a much lower level so breaking into SoftICE on the real machine will prevent the virtual machine from running. You can setup two virtual machines, one with the remote SoftICE session and one with SoftICE and that will work. I've certainly done it in the past with IDA and SoftICE (using the mentioned method) with no problems.