Well... why not?
I came up with this after our conversation with Goldie about Shendu's treasures he promised to Valmont. She said that the money would not be needed in the demon world, so Valmont will have to look for another planet with the monetary system.
And then i like... How will he fly away? Riding Tso Lan?
In short, we decided that he would be an awesome transport. The only thing missing is sparkly rainbow trail behind him.