Quick update - Spoke to res. and agent asked for record locator. She did not have to transfer me to Guest Services and explained that refund was processed back on Jun. 8th and it will take about 7-10 days for the credit to show since the processing date. She apologized for the misinformation and handled it very professionally. On top of that, VX reimbursed me for the VS lounge access fee of $35. That was really appreciated and came as a surprise.
In practice, I've never seen refunds take that long from "processing". If you've looked online at your credit card activity and don't see it, I would assume something is wrong, or it hasn't really been "processed" yet. But anyway, it's almost 10 days...