you book a reservation there is a link you can click on to see what the status of the price assurance is with respect to that reservation. It shows whether you have the lowest price, whether there is a refund pending (because someone booked at a lower price) or whether they have sent you a check (presumably only after the trip as you point out). I was wondering about when the status bar on the reservation will change to pending, not when the check will arrive.
Wondering the same thing here... Price dropped (and it has now become a hot deal). ORD to FLL for $119 round trip tax included. I seriously doubt that no one else purchased the same trip. But my account still shows that I have the lowest price. Does it take a while for the webpage to update?