As far as I know, and I may be wrong there, but Authy gives you access back to your account. Not to your TOTP codes which are encrypted by your Backup Password.

As far as I know, and I may be wrong there, but Authy gives you access back to your account. Not to your TOTP codes which are encrypted by your Backup Password. Once logged in, you need to enter that "second" password in order to get access to the TOTP codes and Authy will notify you of the new device connected.