Can VBA open a file using an IP Address?

In my Word VBA toolbars, I use the concept of a "Content Library," where the users sets a location on their local machine or network file share, where all of the resource files such as templates and graphics, for the toolbar are stored.  Once the content library is set, the file path is stored in the user registry where it can be loaded back in and used in future Word sessions without having to be re-set.  A typical content library location might be "G:\My Department\Tools\Content Library"

One of my users for some reason is unable to connect using a drive letter designation, so they asked if they can use an IP Address.  I don't know enough about networking to understand the equivalency between an IP Address and a drive letter network file share.  I suppose if we could determine that "G:\My Department" is equivalent to 999.44.333.11, he could set his content library to something like "\\999.44.333.11\Tools\Content Library."  Would that work?

Any pointers would be appreciated.  Thanks!