This was bundled with the Cabin Select press release, referring to fully refundable fares:
Virgin America, the California-based airline on a mission to make flying good again, today announced the availability of two new travel options -- "Main Cabin Select" service
and the introduction of fully refundable fares.
http://www.marketwatch.com/news/stor...A55}&dist=hppr
The FAQ's have also been updated: