What is the “SO” namespace? Does it have a proper namespace definition at the beginning of the feed?
If it does, then you can use the get_item_tags function, most likely.
The fetch_feed() function returns a SimplePie object. See the documentation for SimplePie here:
Now, your $item in the code is a SimplePie_Item object:
http://simplepie.org/api/class-SimplePie_Item.html
Which has the get_item_tags function:
http://simplepie.org/api/class-SimplePie_Item.html#_get_item_tags
So, basically, the code would look like this:
$item->get_item_tags('http://example.com/namespace', 'AppId');
To get the SO:AppId. But in order for that to work, the “SO” namespace, which is not standard, has to be defined in the document somewhere, and the URI that it is defined as would be the URI you use in that function call.
The return from that call will be an array consisting of the attributes, data, and child elements. So you’ll need to look through it to find the specific data you require.