I don't know what to be more scared of here: the fact that a money vendor can censor content or that PayPal does not understand leap years. While it is a well known fact that PayPal does not allow its service to be used by "adult" vendors for spanky products (check their service agreement), the old arguement of art versus pornography must be once again raised. Oh, and in case you are wondering, you can get a copy of just about every copy of the Marquis de Sade and Bret Eston Ellis's books on eBay (company has a bit of a connection with PayPal) if you want to have a moral quandry for a second.
As for my second part, PayPal, come'on. Acknowledge the Leap Year, brother, or go for a "last Friday of the Month" policy. No reason to be hatin' on an extra day.