Practically, as long as they allow you to transfer your spot to another person, you can sign up and if you change your mind it's a pretty safe bet someone will buy it from you. If they don't and you decide you're not ready (or you hate triathlons ), you're out the cost of registration. If you give it a shot, you will definitely learn something.

Logistically, you have to figure out how to get your bike down there (or find a sufficient bike in enough time of the race to make sure it fits). That would be the biggest technical hurdle. Fall is a great time to travel, though, it's not too cold here yet and not too hot or humid there for any climate adjusting.