Since my unRAID box is always on, would it be possible to set it up to run as a print server for my network?  My main use case would be for two kids who are away from home but at the same college. One (kid CO) has a color printer, the other (kid BW) has to pay the university's exorbitant fees for color printouts.

 

If the color printer were set up as network accessible, then BW could VPN to the home network, print color stuff then text CO to VPN in so the queued documents would spit out near campus. The kids could then meet up at a convenient location so CO could deliver them to BW, and BW could make good on the bribe (money or food) necessary for the inconvenience.

 

Is this possible and what would it take to make this happen?

You would want the CUPS printer server. There's one in the community applications tool. I haven't used CUPS in ages though so I won't be able to help you beyond this.

I personally would explore using a pdf printer driver.   Then BW could print out the document in pdf format and  E-mail it to CO who would then print the pdf file to the color printer and the exchange would be the same as you propose. 

Thanks for the suggestions, guys.