In commerce_registration.checkout_pane.inc it is checked whether the mail address is required - only then the email is validated.
As for registration-7.x-1.x-dev the email address cannot me set to required.
Thus this line (181ish) will alway return false.
$mail_is_required = $form['registration_information'][$prodkey][$prodkey . '-reg-' . $i]['anon_mail']['#required'];
For my setup I changed this to:
$mail_is_required = TRUE;
Closed: outdated
2.0
Registration Pane
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