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At the moment Horizon tallies the quota usage "manually":
https://github.com/openstack/horizon/blob/master/openstack_dashboard/usage/quotas.py#L110
I think you should look into the Limits API though (nova absolute-limits), that Horizon also plans on switching to. It's more accurate than the quotas and can also include reservations.
https://github.com/openstack/python-novaclient/blob/master/novaclient/v1_1/limits.py
