[tbo]

As a mere mortal: syncing only works against some sort of sync server - be it MobileMe, OmniSyncServer, or any other server that is supported by OP and supports the iCal-format. So syncing works by copying your data to the server and then copying down to all machines connected. Doing so, the app checks for the freshest data and loads them (or sends them to the server). This is basically what all syncing processes do.
For OP, you may want to create a special calender on your server (e.g. "job") to prevent syncing all your private stuff as well (important when you use Google calendar or MobileMe, but irrelevant when you use the OmniSyncServer).