I regularly use Chicken of the VNC (CotV) and Apple Remote Desktop (v2.2) to access a number of various Macs and Windows machines on both LAN and WAN connections. I also have seven other OSs installed with Parallels on my MacBook. Each of these scenarios respond differently to Command-clicking as a substitute for a genuine right-click. Sometimes it works. Sometimes it only respects the Command key. Sometimes I don't have a mouse with me, so I get different results. (The Command-click in CotV is not recognized, for instance.).
Since they all work beautifully with a real right-click, I enabled a feature in the Keyboard & Mouse system preference to use two fingers on the track pad to simulate a right click to see how it might work. Much to my pleasure, it works like a charm! System Preferences » Keyboard & Mouse » Trackpad > [x] Tap trackpad using two fingers for secondary click.
Only rarely do I accidently 'right-click' when I don't mean to, so it's pretty effective and I'm getting better at it after only a couple weeks. It's fantastic. Now, whether I'm in ARD, Screen Sharing, CotV, or Parallels (or *gasp*, OS X!), using a two-finger tap does the right-clicking for me -- consistently.
Mac OS X Hints
http://hints.macworld.com/article.php?story=20071029184109190