Probably like every other double Starpoints offer it is in reference to the base Starpoints earned and not your elite level bonus. You will still get the elite level bonus however, and it will not affect your participation in any other promotions.
Whether or not it leads you to targeted promotion oblivion as welookgood.com suggests, I cannot say, but it seems very unlikely.
Sincerely,
William R. Sanders
Customer Service Coordinator
Starwood Preferred Services
[email protected]