The Application Express 4.0 Early Adopter Phase II (EA2) is now available. Like EA1, this instance is running on Amazon EC2. The beauty of Amazon's elastic IP feature is that we could work on the EA2 instance and get it completely ready, then associate the elastic IP with the new instance, making the switch in less than 60 seconds. You can still access EA1 for the next couple of weeks in case you need anything from that instance. You will need to sign up for a new workspace on EA2.
One nugget I would pass on is that if you run Oracle in the cloud and use Elastic Block Storage for your data files, you should also change the parameter diagnostic_dest to point to your EBS volume instead of the volatile volume that only lives with the instance. The reason is that you could fill up that volume pretty quickly if there is a lot of action on your instance and cause your database to shutdown.
Have fun with EA2 and especially kicking the tires of Websheets!