After investigating alittle, it looks like it's partially supported, it uses the NoCloud portion:
http://cloudinit.readthedocs.io/en/latest/topics/datasources/nocloud.html
$ tail -n 1 /etc/cloud/cloud.cfg
datasource_list: ["NoCloud", "ConfigDrive"]
But I'm not sure how to get more information or what's accurate. The instance ID (VM id) according to oVirt is d3f659e1-21ff-42a0-b5fa-7c2f74a36c2b
However from within the VM it's a different guid:
$ cat /var/lib/cloud/data/instance-id
5d753a23-6f32-41cd-947b-d45e38d30839
I'm also looking to get more information including what host it's running on, what datacenter, type of console, etc.