Nutella has both peanut oil (as the secon listed ingredient) and hydrogenated peanut oil, so I'd say it's a no-go as well.

Some products say "may contain traces of nuts" or "processed on machinery that processes nuts". I work in Food Service (we distribute foods to restaurants etc) and what I have been told by manufacturers is that the ones both of those descriptions mean the same thing - the product was made on a machine that also makes things with peanuts in them. There is the possibility of peanut oil still in parts of the machinery even though it has been cleaned.

There are also some other labels, something like "processed in a plant that processes nuts" something like that anyway. With these I wouldn't be concerned at all really. It just means that somewhere on the same site (might not even be the same building) peanuts are used, but not on the same machine.

Just FYI, I have a friend who has a very severe allergy to peanuts & he eats things that say may contain traces of nuts - afterall you would never be able to eat a chocolate bar if you worried about all the warnings. Anyways, he's fine with it, so it might not be such a big thing if there are traces......