Jason,
There are several reasons for providing multiple Com and Vsup terminals on modules even when the lines are internally connected (the connections are done within the IO module iteself, not in the terminal base). For one, it simplifies wiring. If you have 8 sensors, each with 2 wires (Vin & Com), then it is simpler to wire each of the Com wires to a separate terminal rather than placing 8 wires in the same screw terminal. Additionally, this allows you to distribute the current load (not an issue with the FP-AO-200, but it is an issue with the higher current modules such as the 4xx and 5xx series) between multiple pins as each pin is only rated for a set current rating, and tying multiple channel's returns could exceed that rating.
Regards,
Aaron