Yes, absolutely.  I have a current legacy PXE server running on (shudder) CentOS 4, and it works great for loading the LiveCD image.  Below is the PXE menu config entry associated with it that works on the old server:

label livecd
  menu label ^LiveCD
    KERNEL devops/livecd/vmlinuz
        APPEND rootflags=loop initrd=devops/livecd/initrd.img root=live:/boot.iso rootfstype=auto ro liveimg quiet nodiskmount nolvmmount    rhgb vga=791 nomodeset rd_NO_LUKS rd_NO_MD rd_NO_DM
ONERROR LOCALBOOT 0

It is a CentOS 7 LiveCD, built using Lorax and converted with livecd-to-pxe-boot from LiveCD Tools (also a Fedora thing).

On Wed, Sep 23, 2015 at 10:34 AM, Nishanth Aravamudan <nacc@linux.vnet.ibm.com> wrote:
On 23.09.2015 [10:21:31 -0700], Locane wrote:
> Hello everyone - I'm trying to find resources on how to have Cobbler
> correctly import a LiveCD.  Does anyone have any links I can look at?  Does
> Cobbler even support this?
>
> I've tried manually editing the PXE menu with a known-good-working
> configuration from an old pxe server, and a test system just hangs at
> blinking cursor at the menu when I attempt to load it.

I don't think Cobbler is generally intended to host LiveCDs over the
network -- is that something that is supported by your OS? Cobbler is
for installation primarily.

-Nish