I see no reason that wouldn't work! A note on the colony itself:

In a weird way, the corporations are a little 'hands off' with the colony, besides stopping now and then to make inspections and pick up goods. The colony itself is run by blue collar workers and penal colonists that are trying to make life a little better for themselves however they can. So you have different factions of people with different personal goals working toward the same overall goal of 'staying alive.' Not everyone gets along, but they'll bear each other and sit on the same council that decides the big issues in the colony.

However, corners are definitely cut in the health and safety departments. As said in the opening post, this place ain't exactly OSHA compliant. Penal workers especially get the worst jobs, the ones where they actually have to swim out and work on pipelines and stuff, or where they take submarines out to gather materials. They're the group at the greatest risk of encountering Delta P effects.

But yes! Your concept should work fine. If enough interest is garnered, there will be a faction and character sheet to fill out later.