so, has anyone been there? what's it like? is it really a new Peanuts?

Black Light bar.  Club Tempo is a gay latin/country bar.  They have always had TS performers.  I myself am kinda curious but have not been.  Its not in the best area either.  Not terrible, but not great either.

is it near santa monica/western? i remember the blacklight was a good spot for hot latina

Yes, about half a block west of that on SM.

You can find pictures up from the weekly parties.