So, I assume this is how it's intended to work.
Let's take a 4th level Musetouched Aasimar Bard, with Pageant of the Peacock masterpiece, and Perform (Act) selected for Versatile Performance. Her abilities are 10 10 10 7 10 20, and for skills she has selected max ranks for Craft (Calligraphy), Disguise, Perform (Act), and Profession (Diva). She has Circlet of Persuasion, Magnifying Glass, and a cracked Pink and Green Sphere Ioun Stone for Bluff. Her feats are Deceitful and Skill Focus (Perform (Act)).
Her Perform (Act) is 4 (ranks) +3 (class skill) +5 (Charisma) +3 (Skill Focus, unnamed) +2 (Aasimar, racial) +3 (Circlet of Persuasion, competence), for a total of +20.
Her Bluff is, due to Versatile Performance, the same as her Perform (Act); that is, +20. The Ioun Stone doesn't stack because it's competence bonus, the same as the Circlet. And it's up to the GM if the feat bonus from Deceitful would stack. JJ said he might stack it, but I think it's safe to assume it doesn't stack.
When using Pageant of the Peacock, her Bluff score gets a +4 circumstance bonus, and is upped to +24.
When using Pageant of the Peacock, she can make an Appraise check using her Bluff score. Any Perform (Act) tools don't help, but the Magnifying Glass grants a +2 circumstance bonus on Appraise checks involving any item that is small or highly detailed. As circumstance bonuses stack, her Appraise score for that kind of a action would be +26.
Similarly, if she uses Pageant of the Peacock to substitute a Knowledge skill, the end result is the same +26. This time the +2 (unnamed) bonus comes from Bardic Knowledge, in addition to the +24 from Bluff.
Wonky? Yes.
PFS legal? Definitely.