I think even the VLC solution won't be perfect as each PC will have a different latency decoding and displaying the networked data. If you really want lipsync then post 3 or 9 are you best options as you're distributing the video signal 'live' rather than the data.
Server: Win7 N | AMD Phenom II X4 3.2GHz | 4Gig RAM | Gigabyte GA-MA770-DS3 Mobo | 5TB+ HDDs | 2x BlackGold Twin HD DVB-T| ATI HD 5450 | Cambridge Audio DAC Magic
Client 1: OpenElec / XBMC | Dell GX280 P4 3.4GHz |2Gig RAM | ATI HD 5450 | SPDIF pass through
Client 2: OpenElec / XBMC | Dell GX280 P4 3.4GHz |2Gig RAM | ATI HD 5450 | C-MEDIA USB DAC
Android: Samsung Galaxy S2 GT-I9100 4.4.2 Cyanogenmod 11