I have been playing around with this software for the last few months. (It is an application development kit for iOS and android. You code your application entirely in Lua. Free to try it.)
Yes.... but if you know Lua it is pretty easy to create an app. Thing that I miss when using it is loadstring. (blocked in order to comply with apple's no compiling on device rule.)
There is some access to some of the functionality of native api's (not all) and only through their Lua implimentation of them. Some parts of it they have done well with, other parts need work (example: they give some access to the fine location api(GPS) but it is poorly done....least on android....told it works better on iOS) It is a closed enviroment (meaning if they have not implimented it in Lua you can't do it) but still pretty cool. (and yes it does lend itself to games more readily than other apps, but it is getting better)