Yah, you can use it but as far as I can tell, it's an SMBUS port and not a full I2C port. There are a few posts here from a few months back where we discussed this port for use in Seth's radio project. So far nobody has been able to produce any chip docs that show it does anything more than SMBUS. The lm-sensors Linux drivers are no exception as they can only send SMBUS messages.
If you've got a device that can operate using only the limited SMBUS protocol, it's great. If you need I2C, you still have to look elsewhere. For instance, I wrote a small Windows library for bit banging I2C that works over the parallel or serial port.