If you can get the sensor part sorted then the microcontroller code should be fairly easy.
If the Micro Language you use supports counter or timer interrupts then you should get good results.
I am a worry guts.
If I was the Leccy Meter Man and saw that pile of wires done by PACHUBE then I'd have him cut off

(I've seen similar spaghetti on some of the proposed Gas Meter sensors too. Frightening. Mmm... gas + bare wires... lovely).
I'm sure a neatified version would be fine.
I haven't heard of Current Cost, but as a general comment, if you want fairly accurate figures you CANNOT rely on clamp metering alone.