Target os will be ubuntu and any device with an arm processor should work. I've seen a script to compile chrome on an arm here : http://code.google.com/p/chromium/wiki/LinuxChromiumArm - I thought there was something like that for cef.
I can't immediately think of anything in CEF that wouldn't work on ARM. You might have to hack the gyp config and/or build scripts to make it work, but it should be theoretically possible.