using elk expansion module

On my second floor, i want to put some glass breaks and motion but dont want to fish all the wires down to the basement elk panel.... can i install a M1 16 Zone Input Expander on the second floor, and then from there, run one wire down to the panel?

Short answer, yes. Longer answer, you will have 12 volts available at the input expander to power your motions, just make sure you meet your amperage requirements without the need for an aux power supply.
I am going to do this for second and third floor stuff but I plan to have an another power supply there. It will be a junction with a network switch and speaker feeds as well. In addition to the 4 conductors of the data bus I will run a pair of wires from the SAUX output to a relay that will allow smoke detector reset.