Yup, it will be possible without modifying host os, although installation of improved kernel is necessary.
I don't think I'll get touchscreen working, as its interpreter is based on software layer (touch_server, touch_client using unix socket). But if I manage to enable OTG support it won't be an issue...
If you would like to contribute, here are forked kernel sources (it's a pity, Onyx removed them from their original repository, which obviously is a GPL violation) :
https://github.com/intromatyk/public_kernel/tree/iMX508