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But it can/does work. Some folks were advised to use 8.8 P3 on this platform as a means to have AV protection until the Patch 4 release becomes available.
There's another thread on this somewhere with more detail/history.
Does VSE 8.8 Patch 3 support Windows 2012 R2
Patch 4 was released overnight which officially supports Server 2012 R2 (and Windows 8.1) and quite a few fixes.