I think you might need to approach this in a slightly different way – by modifying the ModelForm, rather than the admin class. Something like this:
class OrderForm(forms.ModelForm):
def __init__(self, *args, **kwargs):
super(OrderForm, self).__init__(*args, **kwargs)
self.fields['parent_order'].queryset = Order.objects.filter(
child_orders__ordernumber__exact=self.instance.pk)
class OrderAdmin(admin.ModelAdmin):
form = OrderForm