The ability to visualize and interact with a point cloud in SketchUp's modeling environment is extended to LayOut as well. When you insert a SketchUp model that is using a point cloud, the point cloud will also be displayed in LayOut's model viewports.
LayOut's tools will refer to the point cloud like real geometry. This will allow you to draw and dimension from point to point or model to point.
Note: Dimension text area will have a red background while designing the LayOut document. This signifies that the dimension is not completely snapped to geometry. The dimensions will NOT have the red background when printing or when exporting images or pdf files.