There has been a lot of discussion over this.  The formal answer from tech support is "no", but that's a (too) simple answer to an unfortunately more complicated question.

Before I tell you how to wire it up, here's the bad news:

1. Like all three way switches being used as a two way switch, there will be no mechanical indicator for "on" vs "off".  But the app will tell you on or off quite admirably, and since this switch does not have two distinct physical positions, this will be less confusing than a mechanical three way switch being used as a two way switch.
2. You wil need to have neutral in the box (but that's true if you were to buy the two way switch).

OK - if you're over the bad news, all you need to do is:

1. Connect neutral,
2. Connect safety ground
3. Connect the line side to the common screw (labeled "Line/Load"), and
4. Connect the load wire to either of the "Traveler" screws. 

You can likely switch the line and load(steps 3 and 4) and it will work just fine.

Rationale:  I'm quite impressed with the electrical design of this device (I'm an electrical engineer).  In 3-way mode, it finds wherever line is and powers itself reliably, allowing it to replace a 3-way switch on either the line side, load side, or both.  Not rocket science, but well thought out.  Then, you can hear an internal relay almost certainly a SPDT relay (which means it works EXACTLY like a 3 way switch).  As such, once powered, it will always act like a 3-way switch - and all of those can be used as a 2-way switch.

Let's hope I can paste a picture: