Cool, sounds like good stuff as opposed to traditional mulches or straw that would be used when seeding. I've used a product called StrawNet which is pelletized straw that performs the same actions you describe. I suspect the pelletized compost could be more benneficial due to its diversity.
I still wouldn't bank too much on it's ability to carry microbes though. I'm sure as organic matter goes it will create a good home for existing or AACT applied microbes, but once compost is dehydrated to the point you mention much of the biology has been lost. Especially fungi, they can't live in a moisture free environment and the process of pelletizing would have destroyed the hyphae.
That was what I was inferring when I said I wouldn't go so far as to call it compost. It does serve the purpose of adding additional organic matter and kudos on finding its benefits. Good stuff.