Many thanks for all the supportive comments. They mean a LOT.
I had to leave the hotel at 4:30 am to catch an early flight.
I expected a bill under the door prior to checkout, but it was not there. I called the front desk who said they are spread out over 22 acres so they don't do bills under the door. The agent said they'd email the bill. (It is now 17 hours later and I still don't have the bill.) I mentioned the water problem. The agent said they'd post a credit equal to one night's stay. If I ever get to actually see the bill then hopefully I'll find out if they kept their word.
Some people might believe that reimbursement for one night is fair. I'm not among those people. Mainly, I need Stay Credit for both nights. I'm participating in the Night After Nights promotion where losing one night's stay will cost 10,000 bonus points (plus the points earned for that night). I'd have to make it up by adding an unplanned stay (perhaps in my own home town).
Bottom line, if someone offered YOU a free night at a Hyatt "but you'll be ankle-deep in water, no one will care, and everything the hotel tells you will be untrue", you'd probably decline. Again, it wasn't so much the water, but the fact that nobody seemed to care and they broke all their promises (e.g. 'I'll send someone to look at it", "I'll email the bill", etc.).
I can't help but wonder about the source of all the water? Broken water pipe? Overflowing sink? Overflowing toilet? Hmmm, maybe I'm better off NOT knowing.
It seems fair to ask for credit equal to one night's stay (because that's what they offered). I also need to get -all- points I would've received if the incident did not happen (i.e. the incident should not cost me points). I will also request my suite upgrade back. I paid two components (money and a suite upgrade certificate) for the room. They apparently want to issue a "full" refund for one night, so they need to refund both components. Otherwise it's only a partial refund.