Yes you can do that. We have provided you all the client side LCCS source. So you can build your swc using compc utility in Flex SDK or build a library project in Flash Builder.
The other thing you can do is, we have layers of inheritance. So you can build your own custom component by extending the base component class .Also from what you are doing, you can always use your custom item renderer instead of UserItemRenderer.
LCCS client is a well architected code in my opinion, making it very flexible.
Thanks
Arun