It seems you are considering only real sequences.
If you have (a)+(b), take any $x$. Then $(\|x\|\pm x_1,\|x\|\pm x_2,\ldots)\geq0$. This tells us that
$$
0\leq\Phi(\|x\|\pm x_1,\|x\|\pm x_2,\ldots)=\|x\|\pm\Phi(x).
$$
Thus $|\Phi(x)|\leq\|x\|$.
For the converse, suppose that $\|x\|\leq1$ and $x\geq0$. So $0\leq x_j\leq 1$ for all $j$. Then $-1\leq 2x_j-1\leq 1$. This shows that $\|2x-1\|\leq1$. Thus
$$
|2\Phi(x)-1|=|\phi(2x-1)|\leq1.
$$
Unwinding the above,
$$
0\leq\Phi(x)\leq 1,
$$
and $\Phi(x)\geq0$. Now for arbitrary $x$ we apply the above to $x/\|x\|$.
With a bit more work, the result also applies to the case of complex sequences.