So, I partially answered my own question when I called Sam's about something else... Even though it says "voucher" online, they just started doing e-tickets (with barcode included) instead so they do not need to be redeemed before use.
That said, I assume you can exchange etickets for regular tickets?-- And, like my original questions, at the hotel or do I need to do this at the parks?
I know we could just use the paper eticket for park entry, but I don't think they will fit folded up in our lanyards (especially along with a room key and express pass).