Recs.
Updated
SpecsUpdate
Pros
Cons
Con Incomplete rebrand
The old name, "Corona", is still present in the installer and other places
Con Making a device build requires internet connection
To build your app for the device (iOS/Android/AppleTV) Corona requires to fetch resources from online. This would include base application template and plugins. This allows not to perform local build or use Xcode or Android Studio to do a build. Even Large games/apps would build very fast with good internet connection.
Your code never leaves computed. Corona SDK would transfer some information to determine which plugins and pieces has to be transferred in order to make a final steps in build.
As a bonus - you get basically one button press to get from your Corona Simulator game to game on a device.
Recommendations
Comments
Flagged Pros + Cons
Out of Date Pros + Cons
Con Closed source
Since you don't have access to the code, you can't make changes to the SDK. You even have to implement workarounds on issues that have long been reported, but never fixed.