Heh, the workstation I'm on has maya on it, couldn't help but have a look...
It works, but there's a few silly things you have to work around.
1. Follicles rely on uv's, my quick test looks like uv's are not exported into the abc file by default. Looks like there's an option there ('uv write'), but if you've already exported, you need to create uv's.
2. So you create uv's with automatic mapping or whatever, but its always downstream of the alembic node, meaning the uv's will swim and update per frame, meaning your follicle will jump around. No good.
3. So you delete non-deformer history, great. Except maya treats the alembic node as a non-deformer too, so it gets removed from the object history. Balls.
4. Fine, get creative. Duplicate the mesh, assign uv's, delete history, then do outMesh -> inMesh from the alembic. No good, outMesh->inMesh sends uvs as well as mesh, so the uv's are wiped as soon as you do the connection.
5. FIINE. Duplicate the mesh, assign uv's, delete history. Duplicate again, Drive that one with the alembic cache. Make the alembic mesh a blendshape target of the uv mesh. Now you have stable uv's, and animation from the cache. The follicle will stay consistent now. Hooray!
If that's not clear I can send a scene.