We do it all the time here. Our system is in the same state--all FMP 10 users, but I use FMP 11 as a client on my machine with no trouble.
Some "new in version 11" features will not be accessible for your FMP 11 users, but they'll work. This is because all versions of FileMaker from version 7 to version 11 use exactly the same File format and file extension.
Thank you Phil.