Novell may have no intention of offering SLED or whatever on ARM

openSUSE will be available on ARM if openSUSE choose to do it, openSUSE != Novell

Every open source OS and their dog can support ARM as a bulid target, and have done for many years. The fact that a specific distro has broadened its horizons away from x86 doesn't really say much.

What are the actual *platforms* this build can run on?

It's all very well saying 'ooh, it runs on ARM! That's used for everything smaller than a laptop!' but I guarantee you that you won't be running this on your PDA or your smartphone or your washing machine out of the box.

But will it do "first-generation" ARM targets?

This architecture is no longer encumbered by patents, nor is it particularly encumbered today by the price of memory (32 bits for a register-to-register MOV was always seen as a bit on the wasteful side, but it's nothing compared to the code bloat in Windows). So it's a prime candidate to be cloned by a far-East manufacturer, as long as a suitable software stack can be put together.