Yes!
we don’t currently expose the revisions in onedrive, however as yo’ve discovered you can use --backup-dir to keep your own revisions provided you run the backup regularly.
you want something like this. Set up two remotes one called o365 and one called ovh (say)
rclone sync o365: ovh:bucket/current --backup-dir ovh:bucket/`date -I`
This will create directories with dates like 2018-09-04 to store the changed files in.