Implementing an I2C Slave with FT201XB over USB

I tried to test the FT201XQ USB-I2C breakout board: UMFT201XB-01, so I can connect it to a host device like Arduino and sniff what that device is sending via I2C.

To see the slave output, I have successfully configured a virtual COM PORT by installing the D2XX drivers provided by ftdchip.com. I can open a serial port through puTTY and it seems fine.

Then I downloaded an example "master_writer" on my Arduino which sends one byte at a time to the address (0x22 is listed in the UM201XB-01 datasheet as the default address).

Nothing happens on the COM port I opened earlier. Do I need to configure / program the FTDI device in any way? In this case, how can I do this in general?

UMFT201XB-01 board http://www.ftdichip.com/Support/Documents/DataSheets/Modules/DS_UMFT201_220_230XB.pdf

Thanks in advance and sorry if this is a "noob" question: P