One limitation not mentioned is that Action! didn't support recursion. This had to do with how local variables were stored.
Whether it was the best language for 8-bit programming, it certainly was a great fit for the 6502, as the language targeted the peculiarities of that chip. Accessing hardware-specific features of the 8-bit Atari's was a snap, which was necessary in order to do anything more interesting than sieves or print loops.
Action! probably could've been ported to the Apple line, but 8-bits were winding down by the time it was released. Porting to 16-bit machines like the IBM PC or Mac (or even the Atari ST) would have been a tougher sell, since Pascal and C were better established by that point, and worked well on those machines.
Two bad things about Action!: Charging a license fee to distribute the runtime, and that dumb bang in the name.
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