Princess Online #65 contains items from our July 2004 website, including our regular features: Watchdoggie!'s petticoat punishment poster, sissy boy art from Carole Jean, Masquerade, Sissy of the Month, Ma Kelly's rhumba panty boys, a Jonathan Bebe picture from our coloring book for you to caption and color, and another edition of The Pantywaist Weakly with many lovely pictures and fascinating stories.   The major feature is the long story "In His Mother's Pink Panties," a rewrite from an old 1960s manuscript about three of the most wicked mothers you could ever meet. They are wealthy, high society ladies with a perverse love of sissifying and feminizing their young sons.   The ladies ravish the boys into sexual submission, training them to panties, their breasts and everything female. Plus they take the boys shopping to a boutique owned by a friend who thoroughly enjoys humiliating and teasing the boys to the core. These three boys have no chance of escape and are forced to become oral slaves to their mother's charms.    Stories and features are rated from "G" to "X" and illustrated with 6 drawings and 11 photos.