Cloud Access Manager 7.1 does support Federation Metadata for configuring SAML apps; the URL has the form:
https://<Proxy hostname>/CloudAccessManager/RPSTS/Saml2/Metadata.ashx?AppId=x
where x is the id of the application created in Cloud Access Manager.
It is generated automatically by CAM on completion of creating a new SAML app in the app wizard and can be seen on the Federation Settings page of the application. You will need to create the CAM application first (possibly using a federation metadata URL supplied by SAML application) and then add this to the SAML app configuration.