I think you're on the right track. I would think this is a good occasion to switch to a referenced library/catalog, which resides on the NAS. Any copy of LR/Aperture/iPhoto could then reference them, and if all editors edit non-destructively, and don't write metadata to the originals, then you'd wind up with original of grandpa and then a few edits of him.
Also, for this use you'd be better off with Aperture or LR. Aperture is nice in that you would use the same library structure as iPhoto, and you could relocated masters from within. Otherwise you'd either have to manually copy out the masters/originals from iPhoto (and risk losing some edits and/or other metadata), or use a utility like Phoshare or iPhoto to Disk; but beware, more recent editions of iPhoto apparently mess up keyword export if it does it at all).
LR is much easier to use IMHO with externally stored photos in a folder structure than Aperture, once they are external to the iPhoto library. If someone put new photos or edits of the original photos in say the folder "Grandpa" then it's a simple click to synchronize the folder in LR and voila, there they are.
Apple no longer has a demo of Aperture, but Adobe has a demo of LR. Give it a try.
And finally, this is partly a non-software issue. If you get some discipline on workflow by everyone, then you may not have to worry. For example, you could automatically put all originals as they come off SD cards, from iOS devices, etc into the NAS in a drop box that only you, on the Master Computer, can change. If someone wants to edit, they would have to copy it off the NAS, edit, and then drop it into the box when they're finished.