When comparing Codea vs Genome2D, the Slant community recommends Genome2D for most people. In the question“What are the best 2D game engines?” Genome2D is ranked 47th while Codea is ranked 107th. The most important reason people chose Genome2D is:
It's the fastest gpu-based framework out there for flash. It's beautifully optimised. It has very low rendering latency, low level OpenGL calls that other tech simply cannot do (ie Unity) due to Stage3D, and thus can render a lot more data quicker
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Pros
Pro Helpful code editor
Errors show up live, as you type. Smarter autocompletion picks up your local and global variables, including nested types. Everything else is just plain smarter, from indentation to highlighting.
Pro Ships with music and sound packs
Codea ships with three great music and sound packs, composed just for Codea and free for you to use in whatever you create.
Pro You can code on an iPad and easily distribute the game
Pro Location library
Location library lets you make use of the GPS inside your iPad. Get your latitude, longitude, altitude and more with a dead-simple API designed specifically for Codea.

Pro Lightning fast
It's the fastest gpu-based framework out there for flash. It's beautifully optimised. It has very low rendering latency, low level OpenGL calls that other tech simply cannot do (ie Unity) due to Stage3D, and thus can render a lot more data quicker
Pro Cross-platform mobile, desktop and web
Supports Windows, Mac OS X, Linux, iOS, Android, Web and native Flash.
And with the HTML5 export, it also potentially supports development for the Wii U :)
Pro Haxe!
Haxe is a strictly typed programming language that saves development time but still compiles high performance executables, and can build for tons of different platforms (flash, c++, html5, java, c#, etc.)
Pro Access to direct draw features
Has access to direct draw features so you can make you own rendering structures (scene graphs etc).
Pro Automatic dynamic batching
Automatically batch geometries with dynamic batching techniques (by using constant buffers).
Pro Component based architecture
Cons
Con Lacks documentation
The API documentation is minimal, there's not many tutorials and the ones that are there are very small and only cover the basics. If you want to learn how to properly use it, you have to ask the community or read the source code and figure it out.
Con Not too many games to showcase it
Con Slow development rate
