I am 5'2.5" and also ride small bikes. My Novara Bonita WSD mountain bike is a 12" frame size and my new Titus Racer X mtb is a 15" (XS) size, yet the geometry and standover are very similar, so different manufacturers can measure very differently. The only real issue I've noticed with these small sized frames is that there is only one water bottle mount. This is not a big issue on a mountain bike as water bottles can get dusty on trails anyway, so most mountain bikers use Camelbaks. Even though the bike you are interested in is not a mountain bike, you can still use a Camelbak when you need more than one water bottle.
I do not have toe overlap on either bike because they have 26" wheels. However, on my 46 cm road bike with 650c wheels and a shorter top tube due to the drop bars, I do have a little bit of toe overlap. It's not ideal to have if it can be avoided. On a Terry (with a 24" front wheel) I recently sold (44.5 cm) and my Bike Friday (with 20" wheels) I have no toe overlap.
I took a look at the bike you are looking at (pretty!), and since it has flat bars the top tube is longer, like my mountain bikes, but with the 700c wheels, you may end up with toe overlap, especially if you don't have small feet. It is certainly possible to ride a bike with toe overlap, but you do have to be careful when turning the front wheel, which is normally only an issue if you are turning sharply at slow speed. The primary way to avoid toe overlap while maintaining a short top tube is to buy a bike with smaller wheels (just the front, like a Terry; or both, like a mountain bike, 650c-wheeled road bike, or folding bike like a Bike Friday or similar brand).
Good luck!
Emily
2011 Jamis Dakar XC "Toto" - Selle Italia Ldy Gel Flow
2007 Trek Pilot 5.0 WSD "Gloria" - Selle Italia Diva Gel Flow
2004 Bike Friday Petite Pocket Crusoe - Selle Italia Diva Gel Flow