Is it feasible? Not as stated (KerrAvon2055's answer explains both why, and what will happen). However, if the orbital distance is at least 10,000 km, it will be safely outside the Selene/Luna Roche limit. The maximum orbital distance is governed by Luna's Hill sphere - the radius that divides "places where you will orbit Luna" from "places where you will orbit Earth" - and is about 60,000 km. So there's plenty of non-destructive orbits to be had.
In this scenario, Selene will eventually be perturbed into an Earth-centric orbit (or something else; it might get ejected and end up orbiting the Sun, for instance), but "eventually" in this context means over thousands or millions of years, so you could have it hang around for a good long while.
What would it look like? Luna would look pretty much how you would expect: it's too massive for its orbit to be meaningfully changed by Selene. (Ceres is actually about as massive compared to the moon as the moon is to Earth, about 1.2% the mass.) Luna's orbital cycle would control the position and appearance of both moons, and it would have the same length as our own moon.
Selene's radius would be about 1/4 Luna's, so it would occupy 1/16th as much sky. Luna's visible diameter is about 32 arcminutes or half a degree; Selene's would be about an eighth of a degree. Its albedo is somewhat lower, so it wouldn't be as bright, but it should be visible and clearly not a star or planet.
Selene would stay near Luna in the sky - its maximum orbital radius around Luna is about ~1/6 of Luna's own orbital radius, which means (if I remember my trigonometry correctly) it should remain within about 10 degrees of Luna, less if its orbit is closer. Because of that, it should have more or less the same phases at the same time. While in the right configuration, with Selene closer to the Sun, you might actually see Lunashine on its dark side.
I'm not clear on whether Selene would experience tidal locking to Luna, and if so, how long that would take. I assume it can't be tidally locked to Earth while still in its orbit. So it would probably not have a "near side" and "far side"; the portion of its surface visible from Earth would rotate over time, at least for awhile.
Depending on the specifics of their orbit, Selene and Luna might eclipse one another. Even at its closest approach on its furthest (from Luna) orbit, Selene isn't nearly big enough to completely eclipse Luna. The reverse is not true; Luna could completely hide Selene if their orbits happen to coincide. Like solar eclipses, Selenian eclipses might only be visible from parts of Earth, albeit much larger ones. Selene isn't big enough to eclipse the Sun, but it might have interesting transits.