Yes, Codea would be more than fast/powerful enough for what I see there.
Since your username is ozcreations, I assume you wrote the original, and have access to the assets (graphics and so on), in which case I’ll add “Yeah, it shouldn’t even be that hard”. The original game would be ambitious for someone to clone, but if you wrote it once - it should fall right into place. Given it’s already written for a touch screen, it should be a pretty straight port.