@schn By itself, the definition of little-o says $\lim\limits_{hu\to0}\frac{f(h,u)}{(hu)^m}=0$. However, in
my answer, there is the context of the integral in which the estimate is being used. The difficulty is that this concept cannot be abstracted into a calculus in the way that you seem to want to do. Context tells us whether $h$ and $u$ are each bounded away from $0$ or not.