This issue only affects apps that use the Google Play IAP V3 plugin.
Our app has more than 20 managed in-app products. If the user owns more than 20 managed products, the querySkuDetails() method in the IabHelper class will return with the failed response code (5) because it calls the IInAppBillingService.getSkuDetails() method which fails if the number of queried SKUs is greater than 20.
This thread explains the problem as it was first sent to Google: https://code.google.com/p/marketbilling/issues/detail?id=123
This link shows the relevant changes that need to be made to IabHelper.querySkuDetails() to break up the products list into groups of 20: https://gist.github.com/tanis2000/8824514
We compared the decompiled plugin.google.iap.v3.util.IabHelper to the copy of IabHelper.java from the Google Play IAP V3 sample app and have verified that the querySkuDetails() method are the same (i.e. both do not include the fix to break up the product list).
When we applied the changes (from the link above) to break up the product list in the sample app, the call to IabHelper.querySkuDetails() succeeded.
Please look into applying the fix to the Corona plugin as this is a major roadblock for apps that have many in-app products.
Thanks.