It seems it is possible to have both the plugins as long as we have our actions configured using both versions of @Action annotations. One for code-behind and another for convention plugin. Convention plugin supported urls started working after I added below setting in struts.xml. It seems by default convention plugin excludes all jar files from the classpath when it scans for Action classes.
<constant name="struts.convention.action.includeJars" value=".*?-web-lib-.*?jar(!/|/)?"/>