Apple, for all their televisual fairy stories, cannot defy the basic laws of Physics. There are basic problems with things like batteries and processing power. Android have it right (the Watch just acts as a remote device which talks to a phone/tablet).
Also, there are problems with Apps. There is obvious opportunity for displaying tweets/facebook/sms etc, then things like news tickers - and basic RSS stuff. Beyond that, not a huge amount.
Corona (I presume) has a run time and a lua interpreter running on top of it. Converting it for an iWatch would produce something horribly limited - large numbers of the things either don’t exist or don’t apply, would have speed and battery problems, and would be unportable to Android.