Can a seller file a dispute with paypal and they charge your bank?

I recently was playing on a web-based game this weekend. I wanted to purchase an ‘enhancement’ to my character on the game (the enhancement was digital by the way). The enhancement cost $55. I decided to modify the paypal button code to $0.01 and see what happens. Sure enough, I got the enhancement and only paid a penny.

A few days later, after racking up a total of 5 pennies, the owner of the site emailed me – talking about a ‘fraudulent charge’. He told me I had 2 days to send him $181.00! So, I was obviously shook up. I am only 16, I didn’t have the money.

I knew I was not in the right there.

But, relentless as I am, I decided to investigate paypal’s TOS.

“11.4 What are the eligibility requirements for PayPal seller protection?… …The item must be a physical, tangible good that can be shipped.”

“11.9 What are examples of items/transactions that are not eligible for seller protection?… …Intangible items, licenses for digital content, and services”

“The Seller Protection Policy does not cover Claims for Significantly Not as Described or for non-receipt of merchandise, or sales of intangible goods, services, or licenses for digital content.”

“Claims must be for payments for tangible, physical goods that can be shipped, and not all other payments, such as payments for intangibles, for services or for licenses and other access to digital content. For purposes of eBay items, motor vehicles and Live Auctions are not covered.”

Source: https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/UserAgreement/ua/USUA-outside

So, I ask, am I going to be charged by paypal and make my bank account go into the negatives, and do who knows what else?

The way I see it, even though I triggered it, if his website gave me goods that I didn’t pay for and doesn’t check for that kind of thing, it’s not my fault.

I understand the moral issues here, and can say that never again will I pull such a stunt. But, that is not what I’m asking. I am asking: What can this seller do to me?

Thanks Guys!
Thanks “Maria Full of Grace”, I didn’t even realize I was supposed to be 18 to have a paypal account… I guess I should have read the user agreement better