I haven't done this so cant confirm but I would be pretty surprised if it couldn't. Only issue I would see if how you distribute the agent software along with your VE instance and/or configuring the App Servers. Also depending on what/how many hosts you are spinning up/down your servers on how you keep track of all that in Introscope (i.e. with lots of, or dynamic hosts names which depending on your setup I imagine could be an issue).