I can't comment on whether the purchase mechanisms work, but in terms of providing information to the buyer, I think your licensing model is complex and as it's completely different from what all the microstock agencies do, you probably need to help buyers understand it.
I think the use of the term extended license is a mistake, because what it means everywhere else is completely different from your multiple uses/one project meaning. Perhaps one time use and one project use?
The licensing document is good for reference, but you need some plain English overview, especially regarding one use and one project, so buyers realize what they can or cannot do.
On a practical level, I don't see how you're going to police adherence to your unusual license terms, and I'd guess most honest buyers will purchase the $24.99 license and use it like a standard agency RF license. Other buyers may get the cheaper $5.99 license and use it like RF.
If you had an army of lawyers to track down unauthorized users, it might make sense (but not economic sense at these prices), but given that you can't police it, why offer vectors for $5.99?
I'm not sure why you put prices underneath the thumbnails in searches. All the prices are the same and it's just visual clutter that gets in the way of reviewing thumbnails, IMO.
Good luck