Windows RDS CALS 2012 and compatibilty matrix
Much to my elation it turns out the 2012 RDS License server and its 2012 CALS are compatible for use with Windows 2008 server.
I can confirm this works and have tried it in my lab.
2012 RDS Licensing server with 10 x 2012 RDS CALS with a 2008 RDS pointing to the 2012 license server. Connections worked and licences were checked out.
Thank you Microsoft for having the foresight to make this easy!
References:
http://social.technet.microsoft.com/wiki/contents/articles/14988.rds-and-ts-cal-interoperability-matrix.aspx