You are right on the result, less so in terms of the cause. If this committee chose to uphold the subcommittee decision and make this a non-votable item, the appeal would go to the floor of the House of Commons, and that's where the secret ballot comes in. Every member of Parliament has a secret ballot right to then vote on making the PMB votable. If that vote were then lost on the floor of the House of Commons, Ms. Malcolmson would not be able to replace her bill.
Stemming out of this decision, whether or not to appeal to the floor of the House of Commons determines whether or not there's an ability to put in a replacement bill.