No such thing as a dining credit hold. You don't even have dining credits on your account until after you have checked in to your resort. They take a credit card, and if you don't show up for the reservation they will charge you. Since it's a generally prepaid reservation, they will charge the entire cash value of that booking and not just $10 per person. This would be the same policy regarding CRT, Hoop de Doo and Spirit of Aloha. Fantasmic package is not prepaid, so the penalty there is $10 per person.
You need to cancel no later than 2 days before the reservation. If you must cancel within 2 days, then it'll be up to whoever you call to cancel as to whether your "excuse" for cancelling would merit waiving the cancellation charge.