Is the adress where data is stored?
No, the address just selects the chip (up to 8 chips/devices can be selected).
Would this be a good option for powering the servos?
Tienda Micro:bit Arduino y Robotica Electan, Maqueen Makey Makey y Mucho Mas
Sorry, I have no experience with these nor the specific motors that you're controlling.
EDIT: It would be good to know the max load current rating for each servo motor.