It'll do the basics, but don't be shocked if some of the GUI stuff completely wipes out, like, backups, due to the changes there, will likely crash. I don't know that for a fact, but it makes sense. However, looking at agent & jobs and running T-SQL, basic object explorer, they'll all work just fine.
Of course, the reverse it true as well. You could just install the 2012 GUI and manage 2008 and not have to worry about issues since backward compatibility works.