Per the latest Admin Guide, it would appear not:
Orion Server Software Requirements
The following table lists minimum software requirements and recommendations. Software | Requirements |
Operating System | Windows Server 2003 SP2 including R2, 32- or 64-bit, with IIS in 32-bit mode Windows Server 2008 SP2 including R2 SP1 |
SP2 has been out for nearly 2.5 years, so I would hope so. I'm being asked by my SE team to upgrade the server to SP2 in order to support the SCOM 2012 agents.
Thanks,
--Mike