Hi Suresh
Please check my comments
1) What is the exact memory consumption by the TSS library
There is not a document that show the memory consumption, due this depend on all the features that you set for on the TSS library.
2) Will more memory be consumed when we generate the code from PE
Yes
3) Are there any ways to reduce the code size for TSI ( TSS) component.
You can disable some function like the DC tracker, the noise filter, but this reduction is too small, and you will lose more features that the memory that you gain, you can use some code warrior optimization and for instance a project create with PE and just a one electrode and one led need 22 K with optimization the same project need 18 K, please check the attached code.
I hope this will help you.