This worked only with a very early version of c2, and even then it didn't too much other that convert over layouts with sprites, tiledbg and text objects as I recall. It didn't do events, however I was able to convert some of the events in an unreleased version. To get it working with c2 now I'd have to reexamine the capx file format, update my capreader python lib to yield decoded events from cap files more easily, and add a table to help conversions from one event to another.
The main issue is that c2 doesn't have some features of cc and some things work differently. I was initially waiting for more feature parity to update but I may not since this is something that will take a lot of tedious work for little benefit. However for the most part cc events are like c2 events so it's simple enough to as a user make events like the other.
I may eventually update the capreader library some more. It provides a way to access the contents of caps which could be useful for making another exporter or IDE for cc. But then again it may be simpler still to start from scratch...
Anyways to sumerize: an update is unlikely however you can manually convert over most projects.