The online system automatically puts cancellations within 30 days into holding status.
They will need to be manually adjusted. Give them time to make the adjustment. From the
DVC Website:
"To make the process of changing reservations as smooth as possible, Disney Vacation Club has lifted the close-in reservation cancellation restrictions and will return any of your Points back as Vacation Points or Reservation Points without placing them into holding. Borrowed Points returned due to a cancellation of a Disney Vacation Club Resort reservation will not be placed in holding and will be returned to the Use Year they were borrowed from. "
However, any borrowed points will remain in the use year to which they were borrowed. and any banked points used for the reservation will need to be used by the end of the use year into which they were banked.