eBay's terminology for payment status is obviously bad (and they should feel bad). They have actually already confirmed that payments are guaranteed if they are cleared to "processing" and the order status is awaiting postage. 

"Processing", in this case, does not mean "not cleared". It means "it's cleared, we've got it, but you can't have it just yet". 

PayPal buyer protection is not relevant for sellers, unless buyers can still open disputes up to 6 months down the track - I'm not 100% certain that they can, TBH. On the 31st of July, PP clarified that there is no protection for purchases where the checkout process is not hosted by PayPal, so now the question is... who hosts eBay's checkout process? If Adyen, then there is no longer any buyer protection through PayPal for eBay purchases.