Through email feedback from an Android Developer Advocate, I have confirmed 
that this is a risk/settlement issue.

Full response from him:

"Dallas, 
I'm sorry to hear that you've been having difficulty getting adequate 
support for this issue. My apologies.

The issue you describe is currently a known issue. Your assessment was 
correct when you said that this was a settlement/risk issue.

Specifically, these users are being flagged by Google Checkout as being in 
a "risk bin" by our automated systems. These users' orders are temporarily 
delayed while we manually investigate the account. In the majority of 
cases, the orders are released for processing within 24 hours without 
problem.

In-app billing is a special case, as all in-app billing orders are subject 
to a 45 second processing timeout. (This was based on feedback from several 
prominent app developers.) Unfortunately, this means that any user who is 
placed into a risk bin will have their order canceled. Attempting the 
purchase again 24 hours later should work correctly.

In particular, all the orders mentioned in your bug report are from the 
same user, whose account is currently listed as "On Hold" while a risk 
review is completed. (Note that accounts used for developer testing are 
much more likely to get flagged for risk review, as they tend to display 
anomalous purchasing patterns.)

Again, the Market team is aware of this issue and is actively working on 
improving the customer experience. 
Thanks for your patience."


And through further communication, it came down to:

"Dallas,
It's the individual users ("buyer accounts") who are buying from that 
account that are temporarily placed on hold. The account used for 
publishing ("merchant account") itself is unaffected -- most users will not 
have problems placing orders for your apps.

Hope that helps clarify things." 

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