I have seen quite few minisites which use RSS feeds to generate content and they all have adsense. I'm not sure if it is ok... It would be better to ask google adsense support for 100% risk free answer.
Although some may see it as being a scraping operation.... I think that if you are technology that imports RSS feeds (from Google News, for example) into your site using some sort of automated script (common for CMS environments such as Joomla! and Drupal, or blogging systems such as WordPress, or many forum software systems) then I think it would be OK.
Remember, it's all about respecting TOS, and intellectual property rules. So, don't illegaly scrape those RSS feeds (of copyright notices, for example) and don't make your site into a purely MFA environment, where the ONLY content is your imported RSS feeds (with no community or visitor interaction) and you have a better chance of not being singled out.
Keep in mind, that if your site adds VALUE to existing information (such as imported RSS information)... than your site is effectively transforming it into value-added KNOWLEDGE..