Yes SnapManager for Hyper-V product is supported on Windows 2008 R2 Core and Windows 2008 R2 Hyper-V Server.
SnapManager for Hyper-V product supports remotely managing the server core systems from a remote windows client or server system.
You can Install the SnapManager for HYper-V[Management Console] on a windows client systems[XP,Vista] or another Windows server systems like Windows 2K3,2008/R2/ and
then remotely manage the Server Core systems from the SnapManager for Hyper-V UI.
Follow the steps below to add a host in the SnapManager for Hyper-V UI from Management console to remotely manage the server core system.
Adding a Hyper-V parent host or host cluster
You can add a Hyper-V parent host or host cluster to back up and restore your virtual machines.
1. From the navigation pane, click Protection.
2. From the Actions pane, click Add host.
3. Either type the name of the host or click Browse to select, and click Add.
If you add a single host, you can manage the dedicated virtual machines on that host. If you add a
host cluster, you can manage the shared virtual machines on the host cluster.
Once the dataset is created with the relevant VMs beloging to the Server core system, you can use the powershell cmdlet on the
Server core systems to take an on-demand backup or restore from a previous backups, or to manage the existing backups.
Please refer to SnapManager for Hyper-V Installation and Administration guide for more information.