The DHX-equipped modules are 2.25" tall, which is 5.715cm.
Add to that the extra height of being in the memory slot when it's installed and your looking at 6cm (probably a little more).
The CCF has an underside clearance of only 4.5cm (measured from the face of the contact area:
http://www.sunbeamtech.com/index-2.html ).
At most, you need to add about .5" for the socket & CPU (1.25cm).
So you have a total clearance of about 5.75cm, but you'll need about 6cm (or more) to clear the DHX's heatspreader.
With a fan installed, the most it will stick out from the center of the CPU is 7.7cm, and the minimum it will stick out from the center of the CPU is 5.2cm (the side with out the fan), and about 6.3cm on the two sides that can't mount any fans.
So, if you can only mount that cooler with the fan on the side where the RAM is, then it probably won't work.
My Noctua with 92mm fans is a bit smaller than the full-sized coolers with 120mm fans, and the lower edge of my fan is about 1 or 2 milimeters from touching the face of the 1st DHX module on my P5E. So would be easy to assume the CCF will overshadow the 1st RAM slot quite easily without being able to clear the top of a DHX module.
If you can mount it with the fan on the opposite side of the RAM (facing towards the rear of the motherboard), then you should be fine, provided there are no other passive cooling devices with really tall fins located around the CPU socket on the motherboard.