I was upgraded to an OWB at both locations.
In Moorea, it was the first one on the pier. In Bora Bora it was the last one which was a premium OWB. I was not charged a fee to upgrade at either location although i was prepared to pay it if needed.
Just like any other hotel an upgrade is nice but if it's an absolute must you should pay for it.
As for food, Moorea wasn't so good and it was simple to get to local resturants that had great food for 1/3 of the price.
On Bora Bora, the food was pretty good and priced similar to NY prices. Keep in mind the dollar was much weaker when we went so the actual cost may have dropped.