Bug reported as fixed by Apple, see accepted answer below ...
UPDATE MON AUG 23rd 10:00 GMT
Although the bug report with apple hasn\'t been closed yet,
I've been going nuts over the same issue all morning in Lion and MacOS (not iPhone). The sandbox is not working.
I just got "An unknown error has occurred" when trying to make the purchase and a console error like this one
8/23/11 1:12:26.090 PM storeagent: promptResponse:
If there is another poor soul like me out there that has been burning their brains out for hours to make this work I just found the answer: the in-app purchase sandbox is ONLY working for US test users. Other stores are not working (my test user was set to Argentina...). Create a new Test user, set it to the US store, and it will work...
I hope this helps.