Earlier quoted context omitted.
Both javascript and lua were designed for very similar goals. It just so happens that the designers of Lua had more time to do it- plus they aren't burdened with the need to always be backwards compatible, so lua (now at version 5) breaks scripts written for older versions. So they each have their trade offs.
I'm pretty confident that if Lua were as widespread as JavaScript is, a backwards incompatible change would be less likely to happen, although with Corona SDK, I'm also confident that Lua will have an opportunity to shine :).
Lua doesn't have to be backwards compatible because nobody has to upgrade to the latest version of lua- and there isn't much of a standard library to break anyway- All the things you'd traditionally use a library for are provided by the outer application lua is embedded in- an application likely not written in lua itself- and so if you do decide to upgrade your app/game the only thing you break is individual scripts.