No, the CY3240 USBI2C Bridge is designed to test, tune and debug hardware and software of a PSoC application by bridging the USB port to I2C. It cannot be used to program a PSoC.
To program the PSoC device please use Mini-Programmer CY3217 or the CY3207 ISSP Programmer. For debugging, please use the In-Circuit Emulator with CY3215-DK. You can also use the Miniprog 3 which can be used for programming PSoC1, PSoC 3/5 devices as well as an I2C USB Bridge.