Vault Says:
18:30:34 [INFO] [Vault] Loading Vault v1.2.8-b87.
18:30:34 [INFO] [Vault][Economy] Essentials Economy found: Waiting
18:30:34 [INFO] [Vault][Permission] PermissionsEx found: Waiting
18:30:34 [INFO] [Vault][Permission] SuperPermissions loaded as backup permission
system.
18:30:34 [INFO] [Vault][Chat] PermissionsEx found: Waiting
18:30:34 [INFO] [Vault][Chat] Towny hooked.
18:30:34 [INFO] [Vault][Chat] Towny found: Loaded
18:30:34 [INFO] [Vault] Enabled Version 1.2.8-b87

Towny Says:
18:30:37 [INFO] [Towny] Loading Towny v0.79.0.0.
18:30:37 [INFO] ==================== Towny ========================
18:30:38 [INFO] [Towny] Database: [Load] flatfile [Save] flatfile
18:30:41 [INFO] Your Version of PEX is out of date. Please update.
18:30:41 [WARNING] [Towny] Error: No compatible Economy plugins found. You need
iConomy 5.01, or the Register.jar with iConomy, BOSE or Essentials Eco.
18:30:41 [INFO] [Towny] Using: PermissionsEX v1.18, Questioner v0.5
18:30:41 [INFO] [Towny] Time until a New Day: 11 hours, 29 minutes, 19 seconds
18:30:41 [INFO] =============================================================
18:30:41 [INFO] [Towny] Version: 0.79.0.0 - Mod Enabled
18:30:41 [INFO] =============================================================

Towny doesn't hook Vault, go complain to them please.

Sorry, I will elaborate. I was thinking this is a bug for this patch:

Vault will now hook itself into Register if Register did not find a supported iConomy

This means you can now use any Economy you want with the standard Register + Vault 

18:30:41 [WARNING] [Towny] Error: No compatible Economy plugins found. You need
iConomy 5.01, or the Register.jar with iConomy, BOSE or Essentials Eco.

So you didn't have any of them? You still need register for the hook.