Words with two, or even three, 'u's are not unusual, but I think that if continuum were to appear in a future Chi game, it would be as a seed-word. My first impressions are that it would be difficult to make 24 words (the minimum requirement) from its letters.
Nor, off the top of my head, can I think of a common 10-letter word, the letters of which would give continuum
That doesn't mean there isn't one, of course.