http://china.eslteachercafe.com/topic1534-panda-education-do-you-have-a-review.aspx

Rachel, I found a link that discusses Panda Education which asks foreigners to come to China on an F Visa. Though this was back in 2011.

I was able to access teflpanda.com and from what I can see they are nothing but another recruiting agency, nothing more. I do think finding a good or bad job on there is about on par with any other ESL website. They are relatively new players in the ESL job world, so things are still up in the air. Just follow the ethical, common sense trail of getting a legitimate working visa by getting the Z Visa in your home country before you embark on your adventure abroad. Any place that doesn't do that for you is a place you need to give a pass. Good luck.