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They should be interchangeable but unfortunately I've found that my Kobo touch is fussy about its USB connection. If I use a poor quality cable or connect through a hub then it flashes up the message saying press to connect to PC but not long enough to actually press it. I believe others have had the same problem.
In your particular case I think the Nexus 7 cable will be ok but it's something to bear in mind. I've got a Nexus 7 but I've never used that cable for anything but charging. I tend to use Kindle ones for connecting to the PC and they work fine with the Kobo.
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