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The Oracle Database Cloud Service can provide some but not all of the features you require.
The ability to create 2 schema usersNot possible, each cloud service has access to just one schema.
The ability to grant permissions between the schema ownersYou cannot grant permissions, see above.
The ability to create synonyms (private is ok)You cannot create synonyms.
The ability for the dad to be set to Custom OWA so it calls myschema.owa_custom.authroize() at each page requestYou cannot create a callback owa_custom.authorize. However, you have OUATH2 authentication which will allow you to create your own security based on the user id for each request.
The ability to create a procedure my hello_world procedure (below)You can create procedures which generate HTML using the htp package. You also have access to the OWA pakages.
The ability to access the procedure via a urlYou can access the procedure via a url using a RESTful web service with PL/SQL source type. See this document (http://www.oracle.com/technetwork/database/database-cloud/public/restful-wp-1844130.pdf) for more details.
500k-1MM page hits per dayThe hits per day is not a problem, the maximum data transfer is controlled by the level of service you purchase.