Yes it's very secure. The owner is TwinwinnerD, a Hero member here on the forum. He is an escrow as well I think here. So he is very reputable and you won't have any problems with the exchange or a chargeback.
If your PayPal account is in good standing, I don't see why would you have a problem withdrawing money to your bank account.
Go for it.
Here's their official thread on this forum:
https://bitcointalksearch.org/topic/ann-wwwbitpandacom-buysell-ethbtc-with-visa-mastercard-neteller-skrill-878727
Looks pretty trusted, the question is whether they would allow +1000 single transaction, probably there are some daily limits.
@DimensionZ - why not doing SEPA transfer (straight to your bank account) rather than going through PayPal?