I don't know if they take black hat traffic. Other than that word is they pay, there was some recent drama with them applying retroactive changes to their rev-share program but that is not something that would affect new affiliates unless they do it again.
Conversions are pretty good(whitehat), downside is they have 14 day ******s for their revshare. It's now updated with lifetime revshare( for new customers I believe).
Other point is they fuck you with the exchange rate. If a customer pays in euro you dont get the actual % advertised. Example: If a customer pays 100 euro you get the commision in $. As a result you get a signicantly lower percentage revshare for sales from certain countries.
AWE is pretty good so far. Good promo tools. The main thing is the sales promo right now is $222 for PPS. As far as the TOS, I don't think they explicity ban chat traffic - actually I'll check - I'm working with a few networks right now, but I think on their $222 promo they said that chat marketing wasn't eligible for the promo - so ya, I'm pretty sure they accept chat traffic.