There is a lot of buzz these days about not using locks and using Message passing approaches like Erlang. Or about using immutable datastructures like in Functional programming
For correctness, shared is the way to go, and keep the data as normalized as possible. For immediacy, send messages to inform of changes, but always back them up with polling. Messages get dropped, duplicated, re-ordered, delayed - don't rely on them.
If speed is what you're worried about, first do it single-thread and tune the daylights out of it. Then if you've got multiple cores and know how to split up the work, use parallelism.