no - the way you're describing is not possible anymore.
Under Xe, and any version that used MS Access DB files and TAM files for Central Objects, it was easily possible to set up a citrix server with 1 set of objects per developer. All it took was a few GB of space for each pathcode.
Now, however, the specs are stored in a database - specifically an Oracle Enterprise Edition database - and the development client needs to see this through a TCP/IP port. The issue is that Oracle enterprise edition uses a TON of memory - much more so than the JDE client does - and the setup of the database makes it difficult for a single machine to have multiple Oracle Databases in parallel.
Now, it MIGHT be possible for someone to alter the database and get it working for multiple users on the same box - but then the next issue is with the web dev client and how THAT runs in parallel on the same machine - let alone the jDeveloper that most developers need (for Business Services development and BPEL).
So, today, the best way of setting up development workstations is to use Vmwares' VDI, Microsoft VDI or Citrix XenDesktop - each of those solutions provide a complete separate desktop for each user, shared on physical hardware. All my customers use one of those solutions - and have no issues pushing out lots of development workstations for remote developers !
