So is this another
vaporware investment?

(sorry, couldn't resist the joke)
Have you tried other payment processors such as Skrill, Neteller, etc to accept CC payments? I find it hard to believe that it's so complicated for someone who isn't doing anything illegal.
Haha. We're a legit business already up and running since November 2012.
All the big payment processors do not allow electronic cigarettes and drug paraphenelia. Skrill has this under their terms and conditions. See here:
https://www.skrill.com/en-us/siteinformation/terms-conditions/They even strictly forbid sending and receiving payments for bitcoin in section 6.7 and 7.4
Can you show anything that proves the site is earning money at this point (and how much)? Would help out a lot when it comes to investing.
Also, what you stated does seem interesting, and it means that this could be a niche you hit on. But we need more information for due diligence.