First off, you probably want to talk to a real attorney on this. I don't think there are people here qualified to provide the legal advice you need.
Secondly, most font makers would view the bitmap font you're creating a derivative font, and most font EULAs don't allow the creation and/or redist of derivative fonts, even bitmap ones.
Thirdly the "embedding permissions" encoded into TrueType or OpenType fonts only relate to embedding in "documents" not apps. See the OpenType spec fstype section for details.
Fourthly, we're looking at a redist package for Segoe UI, contact me off-list to get details once it's ready to go.
Lead PM for fonts, Microsoft typography - simonda@...