I got the answer to my question from ESRI tech support. You can export a report from an in_memory feature class created using any standard geoprocessing tool, like Dissolve or Copy Features. The trick is to first use the Make Feature Layer on the Feature Class and then add the layer to a virtual map before running the ExportReport method.
In the code sample below assume that PARCELS_Dissolve is defined as a real in_memory Feature Class and that PARCELS_Dissolve_Layer is a layer name string:
arcpy.MakeFeatureLayer_management(PARCELS_Dissolve, PARCELS_Dissolve_Layer)
lyr = arcpy.mapping.Layer(PARCELS_Dissolve_Layer)
arcpy.mapping.ExportReport(lyr,
r"C:\Mailing_Labels.rlf",
r"C:\Mailing_Labels.pdf",
"ALL")
The ExportReport only works when it is given a layer that has been added to a map. Fortunately the arcpy.mapping.Layers method appears to be adding the layer to a virtual mxd since I never specified any actual mxd in my code. The code can run completely from Idle.