I guess it is always good when you can answer your own question 
I should first point out that I installed exactly what I mentioned previously into the Sublime Packages/Lua subdirectory no changes were done to get it to work. I still get the previous error (i.e Expected key scope) but this doesn’t seem to prevent the auto-completion to work. I am also running on Mac running OSX 10.6.8.
I received a response from Rodrigo and he mentioned that for auto-completion to work for the parameters that you need to type all characters up to but not including the opening parenthesis. For example, if I want to auto-complete the parameters for display.newRect. I would type the characters up to ‘t’ then press TAB to get the parameter snippet auto-completion. Previously, after typing display.newRect I had typed the opening parenthesis in which Sublime would automatically add the closing parenthesis then I tried pressing the TAB key but nothing happened.
Given this new information I thought I could now tackle figuring out how to get keyword auto-completion to work. Luckily I figured this out as well. Let’s say you want to use the display.newRect API call. First start typing the ‘d’ then press Option-ESC (the instructions for the TextMate bundle said to press ESC for TextMate; however, this won’t work in Sublime). This displayed a popup (use ESC to remove the popup) with all the different display related methods (e.g. display.newText, display.newRect, etc…). Select the one that you want in the popup press RETURN and it will also then auto-complete the parameters as well. Be careful, because if you type ‘display.’ then press Option-ESC the keyword auto-complete doesn’t work then. It appears you can type everything up to but not including the period.
I also discovered the following that if you had a line such as:
local t = display.newText(“string”, 0, 0, native.systemFont, 14);
and you wanted to set the text color on the local variable t you can type
t:[Press Option-ESC]
Note that you must type the ‘t’ and ‘:’ then press Option-ESC for it to work.
A popup will show the available instance methods and you can select the setTextColor and it will then auto-complete it as
t:setTextColor(r, g, b, [alpha])
I already like working in Sublime and with the new auto-completion functionality for both keywords, methods, and parameters will make programming Corona that much easier. 
Regards,
Steve