That looks nice and I imagine it could be useful in applications which need low current draw.
A 28X2 could handle a 90x90 display buffer for ease of use and speed with only a few unused rows and column pixels, and a small border round the display is possibly no bad thing. Driving it directly per pixel would give full access but would likely be slower. One could perhaps split it between buffered and unbuffered.
Looking at the source supplier it seems that version may have been discontinued by the manufacturer but there is a larger version, with even more pixels, 166x144, which is almost half the price.
166x144 is too big for a complete PICAXE memory buffer, but one could use 2x2 pixels as one virtual pixel, making it effectively 83x72, and there might even be tricks available to round-off corners to make it look even nicer.
As you say it's finding an application. Alarm clock ? Thermometer ? Put an Android or IOS logo on it and strap it to your wrist, the modern equivalent of a fake Rolex ?