While the level itself is viewable thru the Oculus, the HUD does not split to each eye. The only way to do this currently in UE4 is by using world space 3D widgets, which are experimental … and from our tests, buggy.
For our internal projects we simply turn off the HUD when viewing through the Oculus. You can turn the HUD on/ff easily via the TAB key or START button on the Xbox 360 controller.
Without having a set path for a solution, its too early too tell when VR support will be included for the HUD.