If you have access through your company's fire wall to the license server you can access licensing from a remote location via the web. In other words, when you connect through your VPN, if you can ping the machine name of the license server, you can run Pro/ENGINEER through that connection.
Licensing is simply access to the functionality. The Pro/ENGINEER software should be installed locally. Options will work if licensing is available.
For any other FLEXlm licensing tricks (Wildfire only), check out the FLEXlm 7.2 guide found in the Pro/ENGINEER help files: \html\usascii\proe\helpSysTop\siteset\flex.pdf