1) Can i use the API to scale a PDF down to a PDF which is 30% of the original PDF's size.
You can optimize the size of PDF document using Aspose.Pdf for .Net. Please check following documentation link for the purpose. However if there is any difference in your requirements and my understanding then please share some more details about your requirement, sample input and output document will be very helpful in this regard.
2) Can I also use the API to convert PDF images to monochrome bitmap (BMP) file format
You can accomplish the task with collaboration of Aspose.Pdf and Aspose.Imaging. Aspose.Pdf for .NET will help you to convert PDF to color BMP and then you can use Aspose.Imaging for .NET to convert the resultant image to monochrome BMP. Please check following documentation and sample code for the purpose.