Yes to your first question. If you have a good network connection you would not know that you were not sitting at your Z Workstation, even though you were using your Mac.
Your second question is a bit more involved. HP RGS requres that the sender and receveir can "see" each other on the same network. Typically a remote person would use thier corporate VPN (Virtual Private Network) to allow them to remote from home into thier workstation at the office. The VPN lets them join the company network so the RGS receiver can see the RGS sender.
In your case, you would need to grant yourself access to your home network when you are at college. In order to do that you will need to setup your own VPN or do some port forwarding on your home network router. Both of those options will require some Google searches and thought.
It is possible to do what you want, but there is not much material from HP to help. HP RGS is often used at universities, AEC or Prod Dev engineering companies, oil and gas companies, and animation/VFX or broadcast companies that have an IT department who provides VPN access to employees or students.
I am an HP employee
