Wow! Great question. Books Online specifically identifies what will occur with LOBs during a REORGANIZE but says nothing specific about LOBs during REBUILDs. It does say that the index is actually dropped and rebuilt and one can infer that will include any LOB information either in the Clustered Index or INCLUDEs of non-Clustered Indexes but, lately, I'm a little gun-shy and I hate to make an assumption like that.
Let's hope that Gail Shaw sees this. She's an MCM and has probably forgotten more about internals like this than most of us will ever learn.