The Sefer HaShamayim Mesaprim (gp. 413) writes that one who is on the moon would not be able to recite Kiddush Levanah, because he does not see the moon in its renewal, and furthermore, when he says, "Just as I dance before you and cannot touch you," it would appear false.
Although he brings that the sefer Tzuras HaLevanah (Rav Avraham Saadon, siman 2 ois 13) writes that one would be able to say it.