First stretch goal has been cleared!
The second still seems reachable if there's a big enough rally towards the end of the Kickstarter (usually there's a big spike in funding when Kickstarters near the end as people previously on the fence decide to go for it), but it's going to be close. Still, with Paypal donations staying open for a while I'd say it's pretty likely they'll clear the second stretch goal eventually. Just not necessarily during the Kickstarter campaign...
But we'll see.
Edit:
Over two days left in the Kickstarter and we're already starting to see a big home-stretch burst in funding. With $44,551 raised today the second stretch goal looks like a shoe-in now. The $700k stretch goal might actually be possible when you add in Paypal numbers...