Grazie per il benvenuto.
Nel tentativo di trovare una soluzione, sempre sul sito della MCS ho trovato la proposta da Ben's 
https://www.mcselec.com/index2.php?option=com_forum&Itemid=59&page=viewtopic&t=12506&highlight=bllcdi2cscaricato libreria "bl_lcd_i2c.LIB" ed il listato, ho modificato esclusivamente gli indirizzi di SCL e SDA rispettivamente
Config Scl = Portb.3
Config Sda = Portb.4
'I2c LCD on Arduino Nano 16x2 display with backlight
$regfile = "m8def.dat"
$crystal = 8000000
$baud = 9600                                                ' baud rate
Declare Sub I2c_scan
Config I2cdelay = 10
$lib "i2c_twi.lib"                                          'hardware i2c/TWI
Config Twi = 100000
$lib "bl_Lcd_i2c.lib"                                       ' AN #118 library from Kent
                                                        ' with this addition
                                                        ' * lds r27,{backlight}
                                                        ' andi _temp2,&hf7
                                                        ' or _temp2,r27
'LCD-display including backlight
'0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1
'1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6
'G 5 C R R E D D D D D D D D B B
'N   O S W   0 1 2 3 4 5 6 7 L L
'D V N                         S
'PCF8574
'P7 = D7
'P6 = D6
'P5 = D5
'P4 = D4
'P3 = 1 = backlight on / 0 = backlight off
'P2 = E
'P1 = RW
'P0 = RS
Const Pcf_d4 = 4
Const Pcf_d5 = 5
Const Pcf_d6 = 6
Const Pcf_d7 = 7
Const Pcf_rs = 0
Const Pcf_rw = 1
Const Pcf_e1 = 2
Dim B As Byte
Dim A As Byte
Dim _lcd_e As Byte
Dim Backlight As Byte
Backlight_on Alias &H08
Backlight_off Alias &H00
Backlight = Backlight_on
_lcd_e = 192
Const Pcf8574_lcd = &H4E                                    'Defines the address of the I/O expander for LCD
Config Scl = Portb.3
Config Sda = Portb.4
I2cinit
'Call I2c_scan                                              'if you want to check if the PCF8574 is seen activate this
Wait 2
Cls
Home
Lcd "i2c-display"                                           'display this at the top line
Wait 1
Lowerline                                                   'select the lower line
Wait 1
Lcd "Shift this."                                           'display this at the lower line
Wait 1
For A = 1 To 10
   Shiftlcd Right                                           'shift the text to the right
   Waitms 250                                               'wait a moment
Next
For A = 1 To 10
   Shiftlcd Left                                            'shift the text to the left
   Waitms 250                                               'wait a moment
Next
Locate 2 , 1                                                'set cursor position
Lcd "*"                                                     'display this
Wait 1                                                      'wait a moment
Shiftcursor Right                                           'shift the cursor
Lcd "@"                                                     'display this
Wait 1                                                      'wait a moment
Home Upper                                                  'select line 1 and return home
Lcd "Replaced."                                             'replace the text
Wait 1                                                      'wait a moment
Cursor Off Noblink                                          'hide cursor
Wait 1                                                      'wait a moment
Cursor On Blink                                             'show cursor
Wait 1                                                      'wait a moment
Display Off                                                 'turn display off
Wait 1                                                      'wait a moment
Display On                                                  'turn display on
'Now lets build a special character
'the first number is the characternumber (0-7)
'The other numbers are the rowvalues
'Use the LCD tool to insert this line
Deflcdchar 2 , 32 , 10 , 32 , 14 , 17 , 17 , 17 , 14        'replace ? with number (0-7)
Deflcdchar 0 , 32 , 4 , 32 , 14 , 18 , 18 , 18 , 13         'replace ? with number (0-7)
Deflcdchar 1 , 32 , 10 , 32 , 14 , 18 , 18 , 18 , 13        'replace ? with number (0-7)
_lcd_e = 128
Cls                                                         'select data RAM
Rem it is important that a CLS is following the deflcdchar statements because it will set the controller back in datamode
Lcd Chr(0) ; Chr(1)                                         'print the special character
'----------------- Now use an internal routine ------------
_temp1 = 2                                                  'value into ACC
!rCall _write_lcd                                           'put it on LCD
'**************************************************************************
End
Sub I2c_scan                                                'check all devices on the I2c-bus
Print "Scan start"
For B = 0 To 254 Step 2                                     'for all odd addresses
  I2cstart                                                  'send start
  I2cwbyte B                                                'send address
  If Err = 0 Then                                           'we got an ack
  '         Print "Slave at : " ; B ; " hex : " ; Hex(b) ; " bin : " ; Bin(b)
  End If
  I2cstop                                                   'free bus
Next
Print "End Scan"
End Sub
Compilato senza errori e programmato il micro (AtMega8) ma il display resta inattivo con la prima riga nera e la seconda chiara.
Tramite oscilloscopio ho verificato che su entrambi i pin SCL e SDA fossero presenti segnali.
Nel dubbio che fosse guasto il dispositivo con il PCF8574A ne ho acquistato un altro di diversa marca ( sempre con uguale pedinatura ), ma non cambia nulla.
La versione del Bascom è la 2.0.7.3
A questo punto non saprei cos'altro provare, ogni aiuto è il benvenuto.