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PGA900: Using embedded Cortex M0 as primary microcontroller

Part Number: PGA900

My PCB space is extremely limited - eliminating a "master" μC would be of great advantage in my application.

I understand the Cortex M0 packaged with the analog front end is intended for custom signal conditioning. 

After looking through the source code for the example firmware, it would appear to me the M0 is fully available for applications beyond just signal conditioning.

The peripherals are understandably limited, only 2 GPIOs, I2C, UART, SPI - more than enough for a signal conditioner.
However this could be enough for me, (2 GPIOs can give me a shift register, I2C can give me a IO expander, etc)

Is there any reason not  to use the PGA as the primary μC in a simple sensor application where PCB space is at an absolute premium?
Have the peripheral interfaces been limited somehow? For example, can I2C be used in both Slave and Master mode?

Thanks!