I just checked my OVM 3.2.7 hosts - I had this issue since OVM 3.2.6 - and my OVM hosts 3.2.4-525 don't show this issue. All of my OVS 3.2.6 and up, only seem to allow 10 socat processes, which are used to connect to the console of a running guest. So, run 13 guests and only the first 10 will have their console available.
On my 3.2.4-525 hosts, there are exactly the same number of socat processes connecting to an VNC port as there are guests running.
Anybody can confirm this?