Yes, everything
is possible.
I remember when I tried to write my first version of the converter. It should parse the script and then it should try to move whole blocks to client-/serverside depending what commands they used. The problem was parsing the script. It isn't easy and I don't have the time for it. So it will be my simple converter which I hope to finish in a week, but which won't be able to convert 100-600 levels.
Replacing hitobjects with triggeraction? Why?