Well, your code isn't quite right, hence the error. After the colon, ":", should be the port number, not the IP address.
By default, Apache will be "glomming onto all bound IP addresses" unless specifically told NOT to do so via the "Listen" directive in httpd.conf.
So, to do what you're looking at above, all you need is this:
<VirtualHost *:80>
DocumentRoot /www/cloudapplication/
ServerName www.cloudapplication.org
</VirtualHost>
However, I might also recommend setting ServerAdmin to your email address, DirectoryIndex to "index.php" or another appropriate page, CustomLog and ErrorLog and possibly "ErrorDocument 404", which would translate to a block like this:
<VirtualHost *:80>
DocumentRoot /www/cloudapplication/
ServerName www.cloudapplication.org
ServerAdmin webmaster@cloudapplication.org
DirectoryIndex index.php
LogFormat "%h %l %u %t \"%r\" %>s %b \"%{Referer}i\" \"%{User-agent}i\"" ncsa_ext
CustomLog "|/usr/local/sbin/rotatelogs -l /www/logs/access_log.%Y.%m.%d 86400" ncsa_ext
ErrorLog /www/logs/error_log
ErrorDocument 404 /404.php
</VirtualHost>
Now, granted, this will CustomLog directive will have Apache writing a new logfile every day, so if your traffic isn't so heavy, you might not want to use "86400" as the period for the log rotation (you might prefer to wait until a certain size ... say, "10M").
