UPDATE:
The Celemony support people were very helpful. While the charges have not yet been reversed, I'm confident that they will be. Last night I retried the purchase and it was successful so it appears that they might have worked out the false fraud hit problem. Other than the glitch in their payment processing, I'm quite happy with Celemony's response and am comfortable leaving the issue on remote for them to resolve.
When I registered the Celemony essential they sent me an offer to upgrade to the editor version for $149. I went to the web site to purchase the update. After filling out my card info I got a screen telling me that either my card number or security code was wrong and the purchase was declined so I filled out the information again and retried thinking I had gotten a digit wrong but got the same result so I tried another card and got the same result.
I then received fraud alert emails from both my credit cards. When I checked my accounts it turned out that all the purchases had been successful. Now I am out $450 with no upgrade.
I suspect there is an issue between their German credit card processing service and the US based banks. Instead of having a smooth update experience, I now have to deal with their support across multiple time zones to get the charges reversed. What a nightmare.
I've never had a problem purchasing anything through the Cakewalk site, if the same offer was available there my life would be a lot more joyous right now.