Ok- so I am somewhat experienced with PPV. But I keep hearing how these guys are killing it on Facebook, so I tried a few campaigns and got my ass handed to me over the last week. So here is round three:
I know dating can be scaled to baller status on Facebook, but I do not want to get in over my head just yet. I want to learn how to make a campaign profitable first. So I chose a somewhat mild offer with a wide ranging demographic.
Banana Giant - via CPATrend Payout is $7.50
Here is the image for ad#1

Ad Copy:
Eating Healthy Is Fun!
Let your kids experience the
thrill of growing and caring
for their own banana tree.
Healthy,nutritious and
educational. Order now!
This ad targets 1,214,840 users:(explanation- I am targeting Parents, teachers anyone that deals with children and/or has an interest in Organic Farming/Foods)
who live in the United States
age 25 and older
who like banana bread, bananas, dora explorer, elementary teacher, hannah montana, nick jr, nickelodeon, organic bloom, organic farming, organic food, organic gardening, parenting, spongebob square pants, wiggles or yo gabba gabba
Suggested Bid: $2.46 - 3.87 USD
Current Stats:

Initially I used the suggested bid of $1.21 and got the above impressions and clicks. Lowered my bid and clicks stopped, which leads me to believe impressions have been halted until a non-peak time(?) any thoughts, advice, constructive criticisms?
I am adding more images to test right now.
I would suggest a different offer for Facebook traffic 
Though, I've made Facebook traffic work for stuff like this when I capture the lead and go for the sale via email. Give them a useful pdf report on how they can get all their fruits cheaper. Really do your research and give them good content. Recommend all sorts of stuff to them, not just bananas.
Also, for the targeting you have 'Spongebob Sqaure Pants' - I can tell you that interest is killing your CTR. Just because someone likes Soongebob doesn't really prove that they are "health conscious". You know what I mean?
I have no campaigns in the US running so i can only give you my opinion how i would try to improve this. Change the picture and the copy:

Ad Copy:
Attention! Watch out how big your banans grow! Click here ...
Ad Copy:
Hey! Running out of bananas? No problem! Order here
Ad Copy:
We have only the bananas the rest is not our business!
He SeanW
First impression - you need ads with better CTR. How many ad images did you test?
Mr Green drop some knowledge on dating! 
and I also agree this will be a tough offer for a facebook. Why not try a simple lead gen like games on facebook?
Definitely a tough offer for Facebook! Move to a new one, also your demo was way to big. For something like that you should be targeting only people who love banaanas/gardening etc.
Index said
I agree - a tough offer for Facebook for sure. That's not to say that it couldn't work - but I have a feeling you will spend a lot of money optimizing this one. It's tough to get users to purchase anything, but of course it's been done many times.
I'd suggest going with something easier to convert to start. Dating has been mentioned, and gaming works well too. International gaming is one of my preferred niches to get running on Facebook. Urban Rivals (FR) is doing well on there right now.
Sorry for the lack of an update. I wanted to thank everyone for their advice. I started pushing a dating offer as suggested. I have had it running long enough to collect a little bit of data. I will post a full update later.