I was in a CVS in NJ today and the manager has a printout from corporate that you may substitute the My Vanilla Debit or Netspend and they will manually issue two $25 Extra Bucks.
However if you got a new Extra Bucks account recently by getting a card in the store, it's most probably not activated (yet) and they will not be able to manually issue you the Extra Bucks. (I tried in two stores with managers)
You can check if your card is activated by scanning it a the coupon center and seeing if it recognises the card.
You can also call 800-SHOP-CVS to activate it by giving your info. (I'd imagine that it can be done online, but I haven't tried).
The original deal with the PayPal cards works even on un-activated Extra Bucks accounts but the limit is now 1, and yes redeeming also works even if the card isn't activated.
Even if you reached your limit of 2 from the PayPal cards you can still do the MVD because it's manual.
This is all my experience YMMV