I believe a similar bag popped up on eBay a while back. From what I recall, the Viva La Val bags never had this distresses look to it. The Green shouldbe a solid, overall green color.
As for the other details, I see what you mean by the letters on the front, but perhaps the seller used the bag so much it kind of rubbed off? The other details look good to me, so I would ask the seller and see if the bag has been used heavily.
ETA: upon second glance, the nameplate looks a little weird me. Maybe it's the lighting but the nameplate should be black and white letters highlighting "Marc" and "By Marc Jacobs". I would want to see clearer photos before I bid.