I thought about it at one time but don't really have a use case for it anymore (the only empeg I use now is in my car.) At that time, it seemed pretty doable, but looking at it now, it seems they've added a bunch of dependencies that might be hard / impossible to build for the empeg. If I were doing it, I'd start with an older squeezeslave release to minimize these dependencies, though you may run into incompatibilities with newer squeezecenter releases, so it's a tough call.

You'd have to hack up the audio output code quite a bit to get it going, see here.