As a Corona Ambassador, I’m always on the lookout for anything related to Corona SDK. Last night, I stumbled across Outlaw IDE and from what I’ve seen so far, it’s pretty handy. You can visit their site, http://outlawgametools.com to download the Lite version to try before you buy. The Lite version just limits the number of groups and projects you can have at a time and displays an ad in the lower-left of the screen.
I haven’t had too long to run the software through detailed scrutiny, however here is a quick video outlining some of the features I’ve found thus far.