I've never had this submitted, but I guess I wouldn't have a problem with it depending on the following:
1) aggregate durability and soundness (including abrasion resistance)
2) Deleterious substances. These would probably be different than natural aggregates, but I'm sure there's impurities that could be in the slag.
3) Densities, gradations, etc...
4) Shrinkage. This is highly dependent on aggregate source. You can do a shrinkage test. A high shrinkage aggregate will cause a lot of cracking.
I'd ask for test results from the respective ASTM standards for each of those. I think I'd also ask for 3 or 4 pours that had already been in place for a couple of years with similar exposures so I could check out how they hold up.
All that may be too much to ask for from the concrete producer and, if so, it would probably just be best to go with a proven aggregate. I guess it also depends on the risk level of the pour. Probably not much risk if it's a sidewalk.