According to the research I\'ve done (see for example this gae issue and this stack overflow question), it is not possible to share one datastore across two applications, an
Using multiple versions for this is a fine way to do this, and there is no problem with the terms of service -- however you may not be able to provide round-the-clock service for multiple apps using only the free quota.
Do note that this means that you have to be extra careful about using the correct version when updating an app, and you can't easily use versions for other purposes simultaneously, since the version is now part of the URL that users use to access an app.
Also, admin console permissions cannot be differentiated between different versions.
Finally, there may be some scheduler features (maybe instance control?) that only apply to the default version; I'm not the right person to answer that.