Unknown posted the link, but here's the path to navigate there:
OnePass Frequent Flyer
Use Miles
Travel Rewards
Interactive Travel Reward Chart
Above the map will be the link to "Travel and Upgrade Reward Charts (Requires Adobe Acrobat)"

As for the OPs, question, technically CO is a Participating Carrier in the Star Alliance Upgrade program, so theoretically it might be possible.

However, on the other hand, the PDF award chart says "Upgrade rewards for flights operated by Continental, Continental Micronesia and Copa Airlines are included in the Continental / Copa Airlines Upgrade Reward Chart."
And the staralliance.com page indicates "Check with the frequent flyer programme for upgrade options" for same-carrier upgrades.

I suspect the answer is "NO" but it wouldn't hurt to call CO and ask.