For those of you that rooted your Ouya this app is amazing. I downloaded "DroidMote" from the Play Store in hopes of using my phone as a wireless mouse. I only tried this app out for about fifteen minutes but it works flawlessly with the Ouya. It brings up a mouse cursor on the Ouya and the phone acts as a touchpad. You can also use the phone keyboard to type on the Ouya. Root, Playstore and Busybox are required. It does cost $2.50 but definitely worth it in my opinion.
Install the DroidMote Client on your phone: https://play.google.com/store/apps/details?id=org.videomap.droidmoteclient&hl=en
Install the DroidMote Server on the Ouya: https://play.google.com/store/apps/details?id=org.videomap.droidmoteserver&hl=en
Install the DroidMote Client on your phone: https://play.google.com/store/apps/details?id=org.videomap.droidmoteclient&hl=en
Install the DroidMote Server on the Ouya: https://play.google.com/store/apps/details?id=org.videomap.droidmoteserver&hl=en