Sorry to be slow to get back to this.
First off, I'd suggest a default value in your field that is meant to hold the concatenated email addresses.
Second off, I'd try again to set the formula up, without bothering with the rather complex logic you are using to try to exclude items where notify is not clicked - that can be added later.
Be sure you pick the Person field using the Insert Field or Group button, then just follow the IP team blog post for the rest of the formula. With your deeply nested repeating structure, I'm not sure if double eval is going to work, but I'd definitely start with the basics. If I get a chance later today, I'll set up a sample form.