Is there is simple POW like web development environment for Lua?
The idea being, with a single command (no configuration) - you have a self contained web development environment for Lua up and running in seconds.
(In case you're not aware, Pow is a Ruby on Rails environment that quickly allows you to begin web development in a self contain directory)
No, there isn't. Pow doesn't serve a language, it makes a connection to a rack-compatible web framework. So if you used a Lua web framework - like, say, Kepler or Orbit, you could write a Rack-compatible loader for it, and then it should Just Work with pow.
(The pow devs are already working on figuring out how to do this in a more generic way; see https://github.com/37signals/pow/issues/120 for more details.)