Will Cloud Access Manager install and fuction normally on Windows Server Core installations either 2008 R2 or 2012?
In version 7.0.2 Cloud Access Manager supports installation and use of proxy hosts on Windows Server Core installations.
The STS host will not install on this version of Windows. Windows Server Core does not support WIF (Windows Identity Foundation) which is a prerequisite of running the STS host in Cloud Access Manager 7.0.2.
Only Windows 2012 Server Core has been tested and verified for use with the proxy host although there is no known reason why Windows 2008R2 Server Core would not also work.
In a future version Cloud Access Manager is being enhanced to use .NET 4.5 which will remove the reliance on WIF, allowing the STS host to be installed on Server Core environments. This work will be undertaken in ER#351859 which is a sub-task of ER#342873, look for these numbers in future release notes to determine support.