I started a world with this seed last night. There were just under 20'ish clumps of grass on the island & my first priority was to geed some seed and plant what I could.
Not a single seed dropped. Ok "Plan B", make a wooden axe but don't use it on the tree but have it as a weapon for when night falls, hoping for a skeleton (bone meal) or a spider (string) to improve my food situation. In the meantime I built (with the 5 wooden blocks from the tree) a crafting table, wooden axe, and wooden pick. I have found a good seam of coal and some iron just below the surface of the island. I started digging down from the bottom of the blocks that make up the top of the hill. I also crafted a furnace to cook down my iron.
Night came & went but no mobs spawned. I hear the sounds of mobs somewhere near (perhaps those caves other have talked about). We shall see!
An alternative is that there are a few clumps of grass on the couple of tiny islands within rendering distance off to the east, but that may be considered cheating in some people's books.