Yes it is. You'll create a policy, say vs1, for your F, G, and H drives, vs2 for I/J/K, and vs3 for M/N/O. You would also create policies for the physical host names that has the C: and Shadow Copy Components directives.
HOWEVER, you can not control the number of backup jobs that can run on a single physical host. It will let you say that only 1 job can run on vs1, 1 on vs2, and 1 on vs3, but if for some reason all of the virtual servers end up on 1 physical host, you could be running one job from each one at the same time for a total of 4 backups (if you include C:).
Additionally, you are responsible for telling NBU which drives are on which virtual server - you can't use the ALL_LOCAL_DRIVES any more. If you add a drive and forget to update your policies, you will miss data. Lastly, bpcoverage won't help you either since it has no way of knowing about the relationships between virtual servers and physical servers.
NetBackup tolerates Windows clusters - it really doesn't support them as well as it should.
.../Ed
