The probability of the 0 and 00 winning would be 1/36 each. If bets on these outcomes paid the usual 35 to 1, then the house edge would be exactly 0%.
The probability of any other number winning would be (34/36)*(1/36) = 2.62%. Compare that to 1/38=2.63% in conventional double-zero roulette. The house edge on any bet on the numbers 1 to 36 would be 5.56%. Compare that to the 5.26% in conventional double-zero roulette. My advice in this game would be to bet the zero and double-zero only.
If anyone can confirm or deny these rules and pays, please let me know.