I'll wager that this isn't happening and any kind of cloud compute being used will come in another form.
For starters a PSNow style streaming service would be redundant as a means for virtual console given the fact that old school snes games are like 10 megabytes. It makes no sense why Nintendo would rather risk their reputation with the quality of such a service when it would be marginally easier, more reliable and cheaper on both ends to just offer digital downloads. Given all the emus already available on droid, and just about everything else, the R&D for Nintendo vc is practically non existent. From a business stand point what you suggest wouldn't make much sense for me and I don't think the new CEO is willing to pursue these new levels of profit at the risk of its consumer base.
I could definitely be wrong though.
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