I know the BCV have not been refurbished, not really sure about the BWV. We stayed at BCV in 2012 and we loved it, but the villas do need some updating! We are going to try the BWV on our next trip.
BWV was completely renovated in 2009/2010. BCV is only twelve years old and is scheduled for a renovation in the near future. They do replace soft goods and repaint as needed. The villas will never look like the resorts when they are completely renovated. They will still look about the same. All renovations at the DVC resorts are paid for from member fees.