You were given incorrect information. Or at least not complete information. When you use points to purchase the AP,
DVC internally "buys" those points from you for cash and uses that cash to then purchase the AP from Disney ticketing. That is a final transaction. At that point, your points are gone, and DVC is no longer involved with the AP. Any future action regarding the AP is strictly between you and Ticketing, and all the normal AP rules apply. You have exactly one year from the date of purchase to activate the AP voucher. If you do not activate it within that year, the voucher converts to a credit that can be used on any future regular ticket (not special event tickets).
So yes, if you don't activate the AP within the year, you do "lose" your points (i.e. you don't get then back), but you still have the value of the AP at the time of the purchase.
Steve