Don't hold your breath.
Not that Paypal isn't fast, but I have doubts about your seller.
First, you had only 45 days to start a Resolution with eBay and Paypal for the missing item. You should be aware that although shipping from overseas can take longer than from across town, most items, even from China or Malaysia take only about 30 days.
So being persuaded to wait for two months (60days) puts you in an awkward position.
But perhaps your seller did ship and is refunding you through PP.
If he had any money in the account at all or if he has a credit card attached, PP could do the refund in seconds. If he backs his PP account with a bank account it could take longer, but PP normally will refund the customer from their own pockets and go after the seller for their own refund. So -- skeezy story.
Did you back your PP payment with your credit card? Because cards usually have longer deadlines than PP/eBay, go to the 1-800 customer service number and ask for a chargeback. Have your dates, prices and transaction numbers handy for the customer service clerk so she can process your refund.
If you backed your PP payment with a balance or a bank account, you just got a lesson about online and overseas purchasing. I hope it was not too expensive.
