The display issue has been resolved by following metalink note and there are other notes related to cursor issues, the metalink notes are:
How To Access Guest Console In OVM 3 Using VNC Without Using OVM Manager ( Doc ID 1548825.1 )
for details on how to.
For the mouse pointer, see
Mouse Pointer Fails to Track Cursor on a VNC / Oracle VM Manager Window ( Doc ID 466379.1 )
( should be valid for OL6 too )
Corrupted VNC console in PVM guests running Oracle Linux 6.4 on Oracle VM ( Doc ID 1537278.1 )
For the non-starting console, please have a look at
Blank VNC Console Since the Service ovm-consoled is Aborted in OVM Manager 3.2.1 ( Doc ID 1541163.1 )
I have just followed the note 1541163.1 that has resolved my main issue of not getting the display after installation of OEL 6.4 on OVM, i have then install tigervcnc from the installation media so it is working.