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tia
The search engines should hae no problems with this setup. Virtual hosting is the 99% rule on the web. If search engines would not be able to see domains in a shared hosting environment as seperate identities, they would produce a huge mess.
So, PR gets passed between domains sharing an IP and a physical location on a disk and the same whois info.
The only question is if some engine or competitor migh construe a case of crosslinking and therefore incur a penalty.
Bu that is independant from shared hosting.
In a nutshell: PR gets passed among the domains.