Public synonym for SEQUENCE ?

No, it is wrong to do so !

To refer to the current or next value of a sequence in the schema of another user, you must have been granted either SELECT object privilege on the sequence or SELECT ANY SEQUENCE system privilege, and you must qualify the sequence with the schema containing it:

schema.sequence.CURRVAL
schema.sequence.NEXTVAL

To refer to the value of a sequence on a remote database, you must qualify the sequence with a complete or partial name of a database link:

schema.sequence.CURRVAL@dblink
schema.sequence.NEXTVAL@dblink

Reference: http://docs.oracle.com/cd/B19306_01/server.102/b14200/pseudocolumns002.htm