Hi.Welcome to CDRLabs!
When you share the CD-ROM drive and insert the CD in the drive can you see the contents of the same from the other networked machine?If you see the track names then any player like WinAmp and/or Windows Media Player can play the tracks.
Else you could rip the songs in MP3 format with a program like CDeX.And then play the files.You can get CDeX at http://www.cdex.n3.net/
Hope that helps.
See ya later,