Yes - you can enable BitLocker on Hyper-V Server 2012 R2

Followed steps from this blog to get the job done.  Also learned you *can* save the BitLocker startup keys for multiple computers on one USB drive (per the Microsoft BitLocker FAQ).

1. Run the Powershell command Install-WindowsFeature bitlocker

2. My server core was joined to a no-longer-existent domain, and the sconfig.cmd utility wouldn't let me dis-join it!  So, I ran netdom remove /d:domain hostname /force

3.Edited the registry to allow BitLocker to work w/out a TPM.

4. Ran through the following three commands