Can you install sockets on other accelerator boards that use the M68060 cpu?
Yes, of course. Just unsolder the oscillator and solder in a socket instead.
what does the oscillator do?,something to do with the cpu clock is it?
Yes, the oscillator generates the cpu clock frequency (e.g. 50 MHz)
Is the oscillator integrated within sockets?
No. The socket is the 'holes' in which you plug an oscillator. The socket allows for easy removal and installation of oscillators, so that it is easy to try several speeds.