On f27 release (Fedora-Server-dvd-ppc64le-27-20171011.n.0.iso) if I run a qemu VM in a qemu VM, I got the error message:
qemu-system-ppc64: Unable to set CPU compatibility mode in KVM: Invalid argument
qemu seems working but the CAS (negotiation with the host for different architecture points) have not been done correctly and that could affect qemu in some ways.
A patch have already been done upstream, https://git.qemu.org/?p=qemu.git;a=commit;h=cc7b35b169e96600c09947a31c610c84a3eda3ff
I ported this patch on the qemu-2.10.0-4.fc27
https://koji.fedoraproject.org/koji/taskinfo?taskID=22403366
This solve the problem and the patched qemu works fine.
I tried it on ppc64 and ppc64le only.