Teensy is a ATmega 32u4 AVR, and can be programmed in C or using the Arduino IDE and libraries. In either case you will need to write firmware to implement the IO logic, and then you can communicate with the IO expander using an I2C library. Once your program compiles you load it onto the Teensy using their custom loader program (comes with the "Teensyduino" add on to the Arduino IDE) or via their command line loader (available from the PJRC website I believe).