I have only tested it with built-in OneDrive in User folder and with Google Drive, and it is loading thumbnails.
Make sure this is checked:
Advanced > Get thumbnails of cloud files
While cloud syncing software could block OC from getting thumbnails, program already has system to keep retrying to get thumbnail if cloud marks it as pending, so that shouldn't be an issue. But in that case it won't show the icons of those files as in your screenshot, so I am not sure why it is like this. Do you have some 3rd party thumbnail handler. I tested program in the past with SageThumbs and FastPictureViewer Codec Pack, I don't know if there are others that will not work with OC.