Shoe,
You can have more than one application accessing a DAQ board at a time but not for the same type of process, such as analog input. I tried a setup where one program was accessing analog input channel 1 and a separate program was accessing analog input channel 2. Only one program would run at a time. However, you can have an analog input program and a separate analog output program accessing the same board running at the same time.
Hope this helps!