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add ref. to rhel/centos 5 solution
<code>/sbin/snmpd -I -ipAddressTable</code>
The same basic idea applies to net-snmp 5.3.1 (at least in RHEL/Centos 5) with a slightly different flag:
<code>-I -ifTable</code>
From what I understand they are in the process of patching things on net-snmp to work with openvz a little better, but because of the duplicate IPs on the VEs (127.0.0.1) things aren't exactly standard.