I'm sure that's their intention.

Ambiguous phrasing and use of "as of" though means it can be interpreted either way. As of can mean "up to this date" or "starting on this date."

"Your statement balance as of November 1st" is your balance on November 1st, not your balance going forward.

"Your air miles earned as of November 1st" ... same thing.

"Your eUpgrades earned as of November 1st" ... same thing.

What they meant to say was:

As of November 1st (i.e. starting on / effective beginning November 1st), all eUpgrades earned until December 31st, ....

So right now I think it means the exact opposite of their intention. That all of your eUpgrades earned *up to* November 1st can be used up to 2013. Those between November 1st and December 31st are not referred to so would expire as stated in the original agreement.

Lawyer fail, I think. For what my opinion is worth.