These things give me an ice-cream headache.

I'm reading it the same way you did in your OP. Changes are permitted without fee, but no refunds. It's pretty ambiguous though, perhaps give a call to CO and ask them to explain.

I've seen similar on international trips where they have different fare bucket levels. Under the "old" system you'd have H1/H2 nonsense where one H bucket was refundable and the other wasn't. Yet, it only displayed as "H" unless you delved into the fare rules.

Just another shining example of why I find the way airlines disclose their pricing structures to be completely irrelevant and detrimental to their business.

They should sell their product like the rest of the world. Put the type of fare out on a grid and let me select the fare I want using plain language. Non-refundable. Refundable. etc. Reconcile it however you want, using whatever restrictions and overly-complex pricing mechanisms work with the airline's rev. management system. But from an end-consumer standpoint sell me something I understand.

Cause if I don't understand it -- chances are I won't buy it.

aloha RNE.

Where in Jamaica are you heading to?