Continuity mistake: When Chicha is measuring Tipo's height, she makes a mark above his head on the wood. Two shots later, that mark has vanished. (00:21:11)
Continuity mistake: When Yzma and Kronk are in Pacha's house, Yzma knocks her cup of tea off the table, then Chicha picks it up and sets it next to the teapot on the table. Three shots later, the cup has vanished from the table. (00:58:15)
Other mistake: Right before Kronk leaves Pacha's house, Chaca's hair has a green stick on the left and a red stick on the right. However, every other time Chaca is on screen, these colours are the other way around. (01:00:29)
Answer: No, not in the slightest. The names are similar, but it's an entirely new and different story.