I completely missed the pin diagrams, I was looking for those. I read it and assumed that the IO Ports were serial, but that didn't make any sense. I see what it meant now, the individual pins are grouped into a single 8 bit register.
I've since removed my post/theory because the cached webpage from IFI. After I posted, I refreshed IFI's site and I noticed their specs had changed. One of the things that didn't make sense was that they listed I/O pins were sampled at 50 MHz.