We have build many, and are actually working on a large project, in wich we use the Yammer embed feed method to inject it in a script editor webpart on SharePoint team sites. So every project / team etc has it's own conversation group right on their team's start page.
Will this still work from september the 1st in the new O365 network online community?
What has happened here, is that the Office 365 Network has moved from Yammer to this Community, which is based on a technology from Lithium. This has nothing to do with the Yammer offerings as such. You can continue to work as before with Yammer in your company, integrated into your Office 365 Suite and as a part of your tenant. So embedding feeds from Yammer into a Sharepoint site or page, will work exactly as before.