I am pulling my hair out trying to figure this out because I had it working until last week and somehow it broke.
When I setup a virtualenv for a Google App Engine app
I think, since you've setup virtualenv with the --no-site-packages option, you need to install the SDK into the environment. --no-site-packages seperates the dev environment you're configuring from any other Python installation on your computer so, as you seem to have it configured you're calling a module that doesn't exist (in the environment) which is why it works with the env deactivated (which is then running Python from the default OS installation). Try setting up the dev env without the --no-site-packages option if you want to be able to access modules outside of the env.