I found I can create two Generator Configurations, each with i2c0 and i2c2 components defined as necessary and enabled/disabled per configuration.
Issue I see is that PE generates files based on the component name, thus making two sets of i2c0.c/h files. I can't SVN two versions of the same filename. I can base the component names on the configuration, but then I can't tell which .h files to include.
There is supposed to be a PEcfg_ defined per configuration but I can't find them.