It says its not accepting applications and will hopefully re-issue in 2008. It is 2008 what should I do? Are there any other prepaid for canadian teens of about 15 years of age?

In my opinion, there are only two reasons to get a Prepaid Mastercard/Visa card:
1. You can't get a credit card, but need to make some purchases that require a Mastercard/Visa Credit Card
2. You have a credit card, but want to make a purchase 100% anonymously, or pseudo-anonymously.
The Muchmusic Prepaid Mastercard is the kind that you need to fill out an actual application for, and you get a Mastercard that has your (teen's) name on it.
I also believe that prepaid Mastercard/Visa "credit cards" don't really teach someone how to use credit responsibly, since they're basically debit cards where you deposit money that you have to spend to get back.