Is MSDTC required for SQL Server 2012 Fail Over Cluster? I am making a 2 node SQL Server 2012 Failover Cluster; do I need to install the MSDTC component?  

If yes, can both be installed on single shared disk?
MSDTC is not required for a SQL Server 2012 fail over cluster.  However, if you plan to use Linked Servers, then you will need to create a clustered MSDTC resource.  The good news is that can be setup after the cluster is already built and after SQL Server has been installed.