In principle this is possible. The only problem is that in order to perform '... for update', the connection will be pinned (bound to the object scope), and therefore you will need to find+use the same object scope instance for the same client again. Otherwise another WCF client could get the scope -> pinned connection and would fail then. This applies only, if the client is stateful (doing the locking, going back to the client, returning to terminate the transaction).
One consideration more: It is best practice to lock things only for a short period of time, otherwise the scalability in the server will be affected. How do you manage to keep the lock time down (or is it an atomar call like (find,lock,change,commit)?
I do not know how Oracle Forms can perform concurrency control, but having 'ROWVERSION' field is another way of CC that does not involve explicit lock calls. You will need to consider the amount of work that is done in parallel, on how many different rows and which operations should be blocked if values change.
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